Calculating variance and standard deviation using Excel

[woodzy72]

shut up, nerd

[ZeizeTheDay]

You sound like the Joker off Batman, haha. Thanks for the upload. ^_^

[picklellama48]

it would be more helpful if you had a voice over or zoom in so that people can read your numbers better...

[mikeylee2001]

I understand what the standard deviation is but what is the variance exactly?

[Shahzeb95ish]

@mikeylee2001 variance is the bit before u square it. it says on my maths txtbook that its also a measure of spread

[3rni3PL]

I am hoping to use these functions to calculate inventory purchasing, basically raw stock for my production. I have data of 4 years. I have 2 years of this data, 2009 and 2010, which I want to use. The data is: ordered qty of a product, stock ordered or used, and then our produced qty's. Will using this technique help me forecast lump sums to run within a period, lets say 4 months, based on hitorical data, or should I used MAD, or some other technique. I have a lot of data to use. Thanks.

[Militant077]

Thanks for the Video :)

[mcdonkey]

actually this post is really good. you can't get the grouped frequency standard deviation using the statistic functions in excel, so this does the trick.

thanks westofvideo.

[marvelzmelvin]

this guys doing it the looooooooong way!

[qaseem65]

Its not the easy way for learners! Students may get confused!

[baconology]

i agree this video is not useful

[westofvideo]

The variance and standard deviation calculated in the video is for data presented by a distribution. The exact 182 data points are not known. The Excel functions =var( ) and =stdev( ) must be applied to the entire set of data values. It is a common mistake to apply these functions the the list of midpoints. This ignores the fact some midpoints occur many times.

[Angeo15]

Is your method of calculating the variance and standard deviation the same way as the using the excel functions =var( ) and =stdev ( ) ?

[0engima0]

EXCELLENT post.

I can't say more.