A mathematical technique is applied to a collection of cells in a worksheet using statistical functions. The SUM function, for example, is used to add the values in a set of cells. Table 2.4 shows a collection of regularly used statistical functions.
Microsoft Excel is a commonly used tool that is excellent for managing and manipulating data sets. Many people use Excel for statistical calculations since it offers statistical skills. Pace's excellent book (2008) provides a wealth of additional information (it can be purchased as a printed book, or as a pdf download).
When a mathematical operation is necessary for a group of cells, such as summing the values in many cell locations, statistical functions are used. Functions are preferable to formulas for these calculations because adding many cell positions to a formula one at a time can take a long time.
A successful Excel spreadsheet will organise raw data into a digestible format, making actionable insights easier to extract. Excel allows you to modify fields and functions that perform computations for you when working with more complex data.
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