From the course: Excel: Sales Forecasting
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Identifying outliers
- [Instructor] After we've put together a cleaned and unified dataset, we need to start going through and actually running some analysis. Let me show you how we do that. I'm in the 03_04_Begin Excel file. So we've gathered some basic data on car sales over time along with data that might help us to predict car sales. In particular, jobless claims, oil prices, and CPI data all measured on a percent change basis. Now, what I want to do to start with is go through and compute some basic statistics, the mean, the median, the standard deviation, and the variance. So I'm going to start by calculating the means. To do this, I'll just use an average function. So I'm going to take average and then down through the bottom of the entire column. And once that's done, I can just drag this over and fill in the averages for jobless claims, oil prices, and CPI. So we see that car sales average 15.3 million on an annualized basis for the…
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