What is the average number of products sold?.Are there any products sold having cost more than 2000 along with a discount rate greater than 50%?.What is the number of products sold without a discount?.How many items/pieces of equipment are sold by the store?.In the course of this article, we will be answering the following questions using various Excel functions: These are the columns we have in our worksheet: We will be solving a few key questions about our dummy sports equipment and apparel company – Khelo. How to Use Microsoft Excel to Manage a Business? Intermediate Statistical Functions in Excel.How to Use Microsoft Excel to Manage a Business?.Learn a few intermediate excel formulas and upgrade your analytic skills.

Get familiar with some basic statistical functions that are very handy in data analysis.Discover how Microsoft Excel can help you manage a business.

We will use 10 key statistical excel functions to answer questions for a dummy sports company, ‘Khelo’, while perusing their data. This article is for everyone who’s starting their journey into statistics using Excel. Excel can help us answer questions like, ‘what is the largest value or minimum value in a set of data,’ as well as plot graphs and even perform regression. It’s Microsoft Excel! Honestly, Excel is the Swiss Army Knife for data analytics professionals that helps you focus on what’s important (statistics in our case) and handles the rest of the calculations and customizations itself.

Just think of the most commonly used tool in most organizations for data analysis. You’ll notice that almost every successful data science professional or analytics professional has a solid understanding of statistics – but does that mean you need a master’s degree in the subject Absolutely not! So what is the fundamental knowledge you must have to be a data science professional? Is it a programming language like Python or R? Is it complex machine learning algorithms? Or is it something a lot more simple? Let’s make that a bit more relevant for us – Statistics is the grammar of “Data” Science. “Statistics is the grammar of Science.” – Karl Pearson

Statistical tools for data analysis ppt