8– –USING EXCEL FUNCTIONS: COMPUTING AVERAGES

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Excel QuickGuide 1

The AVERAGE Function

What the AVERAGE Function Does

The AVERAGE function takes a set of values and computes the arithmetic mean, whichis the sum of the values divided by the frequency of those values. It is the most oftenused measure of central tendency.

The Data Set

The data set used in this example is titled AVERAGE, and the question is, “What is theaverage speed of response and accuracy?”

Using the Average Function

1. Click on the cell where you want the AVERAGE function to be placed. (In thedata set, the cell is C13.)

2. Click Formulas →→ Insert Function and you will see the Insert Function dialog box.

3. Locate and double-click on the AVERAGE function and you will see theFunction Arguments dialog box as shown in Figure 1.1.

4. Click the RefEdit button in the Number1 entry box.

5. Drag the mouse over the range of cells (C2 through C11) you want included inthe analysis.

6. Click the RefEdit button and press the return key or click OK. The AVERAGE func-tion returns its value in Cell C13, as you see in Figure 1.2. Copy the function to CellD13. The average response time is 6.92, and the average accuracy is 7.6. Note that youcan see the syntax for the function in the formula bar at the top of the worksheet.

Related Functions: MODE, MEDIAN, GEOMEAN

Variable Description

Response Time Speed of response across 10 items

Accuracy Number of items correct

Excel QuickGuide 1: The AVERAGE Function– –9�

Figure 1.1 The AVERAGE Function Arguments Dialog Box

Figure 1.2 The AVERAGE Function Returning the Mean Value

10– –USING EXCEL FUNCTIONS: COMPUTING AVERAGES

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Excel QuickGuide 2

The MEDIAN Function

What the MEDIAN Function Does

The MEDIAN function computes the point at which 50% of the values fall above and50% of the values fall below. It is most often used as a measure of central tendencywhen there are extreme scores.

The Data Set

The data set used in this example is titled MEDIAN, and the question is, “What is themedian annual income for a group of 11 homeowners?”

Using the MEDIAN Function

1. Click on the cell where you want the MEDIAN function to be placed. (In thedata set, the cell is C14.)

2. Click Formulas →→ Insert Function and you will see the Insert Function dialogbox.

3. Locate and double-click on the MEDIAN function and you will see the MEDIANFunction Arguments dialog box as shown in Figure 2.1.

4. Click the RefEdit button in the Number1 entry box.

5. Drag the mouse over the range of cells (C2 through C12) you want included inthe analysis.

6. Click the RefEdit button and press the return key or click OK. The MEDIANfunction returns its value in Cell C14, as you see in Figure 2.2. The medianincome value is $56,525. Note that you can see the syntax for the function in theformula bar at the top of the worksheet.

Related Functions: AVERAGE, MODE, GEOMEAN

Variable Description

Income Annual income in dollars

Excel QuickGuide 2: The MEDIAN Function– –11�

Figure 2.1 The MEDIAN Function Arguments Dialog Box

Figure 2.2 The MEDIAN Function Returning the Median Value

12– –USING EXCEL FUNCTIONS: COMPUTING AVERAGES

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Excel QuickGuide 3

The MODE Function

What the MODE Function Does

The MODE function computes the most frequently occurring value in a set ofvalues.

The Data Set

The data set used in this example is titled MODE, and the question is, “What is themode or favorite flavor of ice cream?”

Using the MODE Function

1. Click on the cell where you want the MODE function to be placed. (In the dataset, the cell is C23.)

2. Click Formulas →→ Insert Function and you will see the Insert Function dialog box.

3. Locate and double-click on the MODE function and you will see the MODEFunction Arguments dialog box as shown in Figure 3.1.

4. Click the RefEdit button in the Number1 entry box.

5. Drag the mouse over the range of cells (C2 through C21) you want included inthe analysis.

6. Click the RefEdit button and press the return key or click OK. The MODE func-tion returns its value in Cell C23, as you see in Figure 3.2. The MODE is 3 or thepreference is for chocolate ice cream. Note that you can see the syntax for thefunction in the formula bar at the top of the worksheet.

Related Functions: AVERAGE, MEDIAN, GEOMEAN

Variable Description

Preference 1 = vanilla ice cream, 2 = strawberry icecream, 3 = chocolate ice cream

Excel QuickGuide 3: The MODE Function– –13�

Figure 3.1 The MODE Function Arguments Dialog Box

Figure 3.2 The MODE Function Returning the Mode Value

14– –USING EXCEL FUNCTIONS: COMPUTING AVERAGES

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Excel QuickGuide 4

The GEOMEAN Function

What the GEOMEAN Function Does

The GEOMEAN function computes the geometric mean, used to compute an averageof a set of numbers that are multiplied together.

The Data Set

The data set used in this example is titled GEOMEAN, and the question is, “What is thegeometric mean for percent gains in achievement over a 5-year period?”

Using the GEOMEAN Function

1. Click on the cell where you want the GEOMEAN function to be placed. (In thedata set, the cell is C8.)

2. Click Formulas →→ Insert Function and you will see the Insert Function dialogbox.

3. Locate and double-click on the GEOMEAN function and you will see theFunction Arguments dialog box as shown in Figure 4.1.

4. Click the RefEdit button in the Number1 entry box.

5. Drag the mouse over the range of cells (C2 through C6) you want included inthe analysis.

6. Click the RefEdit button and press the return key or click OK. The GEOMEAN func-tion returns its value as .08 or 8% in Cell C8, as you see in Figure 4.2. Note that youcan see the syntax for the function in the formula bar at the top of the worksheet.

Related Functions: AVERAGE, MEDIAN, MODE

Variable Description

Ach Achievement gain for Years 1 through 5

Excel QuickGuide 4: The GEOMEAN Function– –15�

Figure 4.1 The GEOMEAN Function Arguments Dialog Box

Figure 4.2 The GEOMEAN Function Returning the Geometric Mean