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How to calculate standard deviation on different range values within dataset

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    How to calculate standard deviation on different range values within dataset

    At the store, the accountants track the following data on a daily basis:
    - count of receipts
    - total value of receipts
    based on 5 different receipt value ranges
    - Less than $5
    - $5 to 10
    - $10 to 15
    - $15 to 20
    - over $20
    and calculate the Average $ per Receipt.

    one.PNG



    The operations department needs to be able to investigate any "non-normal" days.
    So, the operations manager wants to be told when the Average $ per Receipt is outside of 1 and 2 standard deviations based on the customer flow (or # of receipts).

    Notice that Day 3 Average $ per Receipt of $10.26 will be apparent for 3-4000 receipts, but the accountant wont notice that day Day 4 may need to be identified as needing review.

    How do I calculate the Standard Deviation on the Average $ per Receipt by each threshold of customer flow?

    two.PNG


    NOTE: I am having difficulty attaching the file of 11 days of data. I will retry after starting this thread.

    Thanks in advance for your knowledge.

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    Forum Moderator Glenn Kennedy's Avatar
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    Re: How to calculate standard deviation on different range values within dataset

    Unfortunately the attachment icon doesn't work at the moment. So,... instead click on Go Advanced (below the Edit Window) while composing your reply, then scroll down to and click on Manage Attachments and the Upload window will open. Click on Browse and navigate to (and double-click) the file icon that you want to attach, then click on Upload and then on Close this Window to return to the Edit window. When you have finished composing your post, click on Submit Post.
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    Re: How to calculate standard deviation on different range values within dataset

    Here is a pic of the 11 days of data.

    total.PNG

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    Re: How to calculate standard deviation on different range values within dataset

    Instructions (Please Read Carefully):

    Unfortunately the attachment icon doesn't work at the moment (it hasn't worked for years, and despite our repeatedly asking the technical team who own the forum to fix it, they can't be bothered to do so), so to attach an Excel file you have to do the following: just before posting, scroll down to Go Advanced and then scroll down to Manage Attachments. Now follow the instructions at the top of that screen.
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    Forum Moderator AliGW's Avatar
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    Re: How to calculate standard deviation on different range values within dataset

    Pictures are of little or no use - please use our instructions to provide an actual workbook.

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    Re: How to calculate standard deviation on different range values within dataset

    Here is the file attachment
    Attached Files Attached Files

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    Forum Moderator Glenn Kennedy's Avatar
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    Re: How to calculate standard deviation on different range values within dataset

    You need array formulae like this:

    =IFERROR(2*STDEV(IF($D$15:$N$15>=2000,IF($D$15:$N$15< 3000,$D$31:$N$31))),"")

    Array Formulae are a little different from ordinary formulae in that they MUST be confirmed in the FIRST CELL ONLY by pressing CTRL+SHIFT+ENTER to activate the array, not just ENTER. After that, the array can be dragged down as normal, to cover the desired range.

    You will know the array is active when you see curly brackets { } - or "curly braces" for those of you in the USA, or "flower brackets" for those of you in India - appear around the outside of your formula. If you do not use CTRL+SHIFT+ENTER you will (almost always) get an error message or an incorrect answer. Press F2 on that cell and try again.

    Don't type the curly brackets yourself - it won't work...

    There is no SD for the last row, as you can't have an SD with one replicate.... Indeed you can't really have one with two, either...
    Attached Files Attached Files

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    Re: How to calculate standard deviation on different range values within dataset

    Nice Work Glenn

    I have used arrays but i generally forget about them in this type of situation.

    Nice you noticed the single point of data for "over 4000 receipts". Ultimately there will be a year's worth of data in the dataset (and no single point of data for any series in the dataset).

    THANKS

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    Forum Moderator Glenn Kennedy's Avatar
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    Re: How to calculate standard deviation on different range values within dataset

    Ah... then there shouldn't be a problem!!

    You're welcome.



    If that takes care of your original question, please select "Thread Tools" from the menu link above and mark this thread as SOLVED.

    It'd also be appreciated if you were to click the Add Reputation button at the foot of any of the posts of all members who helped you reach a solution.

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