Sample Size, Mean, Standard Deviation, and Standard Error of the Mean
This chapter deals with how you can use Excel to find the average (i.e., “mean”) of a set of scores, the standard deviation of these scores (STDEV), and the standard error of the mean (s.e.) of these scores. All three of these statistics are basic to the study of statistics and are used frequently within many additional statistical tests. The formulas are presented and explained, and a practical example is given for each formula that shows how the formula can be applied using a calculator. Then, the steps needed to compute these formulas using Excel commands are explained so that you can practice using Excel to use these formulas correctly. You will also learn how to use Fill/Series commands, how to change the width of a column, how to center information in a group of cells, how to give a “name” to a group of cells, how to find the sample size for a data set, how to format numbers with a specific number of decimal places, how to save an Excel worksheet into your computer, and how to print out an Excel worksheet. Three practice problems are given at the end of the chapter to test your Excel skills, and the answers to these problems appear in Appendix A of this book. An additional practice problem for each chapter is presented in the Practice Test given in Appendix B along with its answer in Appendix C of this book.
- Weiers, R.M. Introduction to Business Statistics (7th ed.). Mason, OH: South-Western Cengage Learning, 2011.Google Scholar