University : Victorian Institute of Technology UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : MITS6005
Country : Australia
Assignment Task -                 
 

Analyze & Present Data

Analysis ToolPak 7 Excel can be used for more advanced analysis than summary statistics and charts

1. Click the File tab, click Options, and then click the Add-Ins category

2. In the Manage box, select Excel Add-ins and then click ‘Go’

3. In the Add-Ins box, check the ‘Analysis ToolPak’ and ‘Solver’ checkboxes, and then click ‘OK’

4. Go to the ‘Data’ tab and look for the Analysis section.

 

Histograms

A histogram depicts the frequency or probability distribution of a numeric variable across bins of equal width Variable distributions may appear statistically “normal” or display non-normal characteristics such as skewness or kurtosis Create a histogram through ‘Data analysis’ by specifying the bins in a separate range.

 

Correlation

• The CORREL() function (and Data Analysis correlation option) quantify the direction and degree of the relationship between two variables

• Correlation coefficient is between -1 and 1: - Negative values indicate the variables are inversely related - Positive values indicate the variables are directly related - Values close to zero indicate a weak correlation - Values close to 1 indicate a strong correlation

• Correlation is often best visualized with a scatter.

 

Linear regression (univariate)

In addition to descriptive statistics, Excel can build and evaluate simple predictive models:

1. Select ‘Regression’ from the Data Analysis section

2.Select your dependent (Y) variable (to be predicted)

3.Select your independent (X) variable (used to predict the Y variable)

 


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