How to Learn Descriptive Statistics Using MS Excel 2007

1. Define variability in data using the range, variance and standard deviation functions. In MS Excel 2007, use the Data Analysis Tool under the Data Tab in the top navigation bar. If the option is not available, install the Excel Analysis Toolpack using the MS Office Button. First select Excel Options, then Add-ins, then select Analysis Took Pac, click Go, then OK. Once installed, select the Data tab, then Data Analysis, then Descriptive Statistics; click on the input field and highlight the data. Then check the summary statistics checkbox and click OK.
2. Construct a histogram for analysis of frequency. Open a spreadsheet and enter a set of data values in a column. Select the charting function under the Insert tab and select histogram charts, then click the input field and highlight the data in your column using your mouse. Click OK.
3. Test kurtosis, skewness and distribution using the charting feature. Enter the data in rows or columns, then select Bar or Scatter Plots under the Insert Chart tab to reveal the graphical representation of data dispersion. For kurtosis, select the Formulas tab, then More Functions, then scroll down until you see KURT. Click the input field, highlight your data and select OK.
4. Utilize the stem-leaf and box-plot functions to perform projections (explanatory data analysis). The stem-leaf and box plots are available under charting using the histogram option.
5. Invest in other statistical analysis software to perform more advanced analysis. Several personal and commercial brands exist in the market. MINITAB is a popular personal tool that can be utilized with Excel for point analysis, and SPSS is available from IBM for a more comprehensive package of tools.