The average or arithmetic mean for a group of numbers Table 2.4 Commonly Used Statistical Functions Function In addition to demonstrating functions, this section also reviews percent of total calculations and the use of absolute references.
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This section demonstrates a variety of statistical functions that we will add to the Personal Budget workbook. However, when you use a function, you can highlight all the cells that contain values you wish to sum in just one step. This can be very time-consuming if you have to add the values in a few hundred cell locations. If you use a formula to add the values in a range of cells, you would have to add each cell location to the formula one at a time. Functions are more efficient than formulas when you are applying a mathematical process to a group of cells. A list of commonly used statistical functions is shown in Table 2.4. For example, the SUM function is used to add the values contained in a range of cells. Statistical functions apply a mathematical process to a group of cells in a worksheet. In addition to formulas, another way to conduct mathematical computations in Excel is through functions.
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Use the AVERAGE function to calculate the arithmetic mean.Use the COUNT function to count cell locations with numerical values.
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Use absolute references to calculate percent of totals.Use the SUM function to calculate totals.