Excel Solver is an add-on analysis tool. You supply a formula, a data set, and constraints, and Solver provides an optimal solution for the formula. Solver enables you to perform sophisticated analyses like logistic regression. In this video, Joe shows you how to install and use Solver to add signficantly to your portfolio of statistical tools.
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- [Voiceover] Now we turn our attention to…three statistical charts that are new to Excel 2016.…They're called Histogram, Pareto, and Box and Whisker.…They're very helpful for summarizing and visualizing…statistical information and they're great for presentations.…You use Histogram when you want to visualize a set of data…that fall naturally into intervals, called bins,…and you want to show the frequency in each bin.…Excel has always had ways to create histograms,…but this new chart type does it much more quickly.…The data here, from the World Bank,…are the percentages of people in each country…who have access to electricity as of the year 2012.…
To create a histogram, select the range B2…through B218…and on the Insert tab,…select Recommended Charts,…Histogram.…Excel automatically sets the number of intervals…and their boundaries,…but you can modify all that.…I'll click on the x-axis and change number of bins to 10.…Stretch it out a little bit.…
On the x-axis, a square bracket means inclusive…and a parenthesis means not inclusive.…
He explains how to organize and present data and how to draw conclusions using Excel's functions, charts, and 3D maps and the Solver and Analysis ToolPak add-ons. Learn to calculate mean, variance, standard deviation, and correlation; visualize sampling distributions; and test differences with analysis of variance (ANOVA). Then find out how to use linear, multiple, and nonlinear regression testing to analyze relationships between variables and make predictions. Joseph also shows how to perform advanced correlations, variable frequency testing, and simulations.
By the end of this course, you should have the foundational knowledge you need to take other statistics-related courses and perform basic analysis in the workplace.
- Using Excel's statistical functions and 3D charts
- Visualizing sampling distributions
- Performing comparisons with ANOVA
- Performing two-way analysis with ANOVA
- Analyzing linear regression
- Performing multiple regression and nonlinear regression analysis
- Making advanced correlations
- Testing variable frequencies
- Running simulations