Hello and thank you for reading this message.
There are a few standard deviation functions in Excel. Which function is recommended to use?
Thank you.
Hello and thank you for reading this message.
There are a few standard deviation functions in Excel. Which function is recommended to use?
Thank you.
When asking a question like this you should tell us what you are doing. We can't give you a recommendation without knowing how you are going to apply it.
There are two main types of standard deviation functions.
STDEV.P Calculate the standard deviation when you have exhaustive data that describes an entire population. For example, Her Majesty's Revenue and Customs has the data for income of every subject that pays taxes. If they want to know the standard deviation, they would use this formula against data of the entire population.
STDEV.S Calculate the standard deviation when you have a random samples taken from the population. For example, if you sample 100 tax returns and want to use that to estimate the standard deviation of the entire population. The larger your sample size gets, the closer STDEV.S is to STDEV.P.
The math behind this requires a bit of statistics study, but is not important if you understand how to apply them.
There are different flavors of these where you can include boolean values or text values in the as well as numbers and it will treat them as zeroes. I do not recommend doing that without an analysis of your data to determine if it's appropriate.
That's great, thank you for your reply.
The calculation is for analysing variances in houses sales prices in an area.
Thank you again for your reply.
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