Statistical Analysis Using MS Excel 2013

FAQ

(Frequently Asked Questions)

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Statistical Analysis Using MS Excel 2013

FAQ

Table of Contents
S#

Question

1.

How can you inactivate an Excel add-in?

2.

What is Flash Fill?

3.

How to apply protection to a shared workbook?

4.

What is FV() function?

5.

What are the functionalities of COUNT() and COUNTIF() functions?

6.

What is the use of INDEX() function?

7.

What is a Pie Chart?

8.

How to save a chart as a template?

9.

What are the different types of trendlines in Excel?

10.

How to remove conditional formatting from the Excel workbook?

11.

What is a Power PivotTable and how is it enabled?

12.

What is a data bar?

13.

What is meant by correlation coefficient?

14.

What is Goal Seek?

15.

What is meant by moving average?

16.

What is meant by ActiveX Control?

17.

What are the uses of Form Controls?

18.

What is a Spin Button Control?

19.

What is a Scatter Chart?

20.

How to insert a Form Control in a worksheet?

21.

What is a Histogram?

22.

How to clear data from a PivotTable report?

23.

How to create a custom workbook template?

24.

What is the use of Option Button control?

25.

What is the use of VLOOKUP() function?

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Statistical Analysis Using MS Excel 2013

FAQ

How can you inactivate an Excel add-in?

An Excel add-in can be inactivated by performing the following steps:
1.
2.
3.
4.

Click File Options Add-Ins category.

Click Excel Add-ins from the Manage list.
Click Go.
Clear the check box next to the add-in that has to be inactivated in the AddIns box.
5. Click OK.
In many cases, when an add-in is inactivated, it is removed from its group on
the Ribbon.

What is Flash Fill?

Flash Fill is a new data assistant feature that automatically completes the data in a
column in a flash after recognizing the data pattern. For example, if the first column
has the complete name of all employees and the second column requires only the
last names of the employees. If users start entering the last names in the second
column, the Flash Fill feature auto lists the rest of the column data. Users have to
press the Enter key once to accept the suggestion or press the Esc key to enter the
data manually. The features of Flash Fill are as follows:
It is case sensitive
Works with both alphabetic and numeric data
Uses data already entered in the sheet
Identifies the pattern in a new set of data
Avoids use of complex formulae to extract data
Works well for basic tasks

How to apply protection to a shared workbook?

User can apply protection to a shared workbook by performing the following steps:
1. Click Review Protect and Share Workbook command in the Changes group.
This will open the Protect Shared Workbook dialog box.
2. Select the Sharing with Track Changes check box.
3. Type a password in the Password (optional) box and click OK.

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FAQ

What is FV() function?

The FV() function is a financial function that returns the future amount of an
investment which is based on periodic, constant interest rate, and constant
payments.
The syntax of FV() function is as follows:
Syntax:
=FV(rate, nper, pmt, pv, mode)
where,

rate: Is the annual rate of interest.

nper: Is the number of installments to be paid.

pmt: Is the amount of payment.

pv: Is the present value of investment also known as the principal amount.

mode: Is optional and can be 0 (zero) or 1. 0 is the default value and

indicates payments to be done at the end of the period. 1 indicates that the
payment is to be made at the beginning of the period.

What are the functionalities of COUNT() and COUNTIF() functions?

The functionalities of COUNT() and COUNTIF() are as follows:

COUNT() - COUNT() function only adds cells containing numeric values in a

range. It ignores empty cells and cells containing text.

COUNTIF() - COUNTIF() function is a combination of two other functions;

the COUNT and the IF function. The COUNT() function gives the number of
cells in a selected range that contain numbers. The IF function allows to have
different results based on specific criteria. Therefore, COUNTIF() is used to
count the total number of cells in a range where the data meets a specific
condition.

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Statistical Analysis Using MS Excel 2013

FAQ

What is the use of INDEX() function?

The INDEX() function returns a value or a reference to a value from a table or a
range.
It operates both on array and references as follows:

Array Form
The array form can be used to return a value from a table or a range
specified by a row and column indices.
Syntax:
=INDEX(array, row_index, column_index)
where,
array: Is the range of cells or an array constant. If the array has a single row
or column, specifying a row index or a column index is optional. If the array
has many rows and columns, and only a row index or a column index is used,
then the function returns an entire row or column in the array.
row_index: Selects a particular row within the array from which a value is
returned. If row_index is omitted, column_index is required.
column_index: Selects a particular column within an array from which a
value is returned. If the column_index is omitted, row_index is required.

Reference Form
The reference form returns the reference of a cell specified by a row and a
column.
Syntax:
=INDEX(ref, row_index, column_index, area_index)
where,
ref: Is the reference to one or more cell ranges.
row_index: Is the number of the row in reference.
column_index: Is the number of the column in reference.
area_index: Selects a range in reference from which the specified row_index
and column_index are returned. If there is more than one area, the index for
the first one becomes 1, second area becomes 2, and so on.

What is a Pie Chart?

Pie chart is used for displaying data arranged in either a single column or row on a
worksheet. It is used for displaying the size of items in one data series in proportion
to the sum of the items. In a Pie chart, the data points are displayed as a
percentage of the whole pie. It displays data in the form of a pie.

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FAQ

How to save a chart as a template?

A chart can be saved as a template by performing the following steps:
1. Right-click the chart and then, click Save As Template. The Save Chart
Template dialog box is displayed.
2. Type a name in the File Name box and click Save. The chart will be saved as
a template file having the .crtx extension.

What are the different types of trendlines in Excel?

The different types of trendlines are as follows:
Linear Trendline - It is a straight line used to depict simple linear data sets. A
linear trendline depicts a steady increase or decrease in the values of a data set.
Logarithmic Trendline - It is curved line used for representing data whose rate of
change increases or decreases rapidly and then levels out. It uses both positive and
negative values.
Polynomial Trendline - It is a curved line used to represent fluctuating data. The
number of fluctuations in the data or the number of bends in the curve helps to
decide the order of the polynomial. The higher the order of the polynomial, the
more bends appear in the curve.
Exponential Trendline - It is a curved line used to represent data values, which
go up or down at constantly increasing rates. It cannot be created if there are
negative values or zeroes.
Power Trendline - It is a curved line and is used with data sets that increase at a
specific rate. For example, the increase in speed of a car at an interval of 5
seconds. It cannot be created if there are negative values or zeroes.
Moving Average Trendline - It removes all fluctuations in the data to depict a
trend more clearly. It uses a specific number of data points, calculates their
average, and plots the average value on the trendline.

How to remove conditional formatting from the Excel workbook?

Conditional formatting rules can be removed from the Excel workbook by
performing the following steps:
1. Click Home Conditional Formatting from the Styles group.
2. Select Clear Rules. A cascading menu appears.
3. Select the desired option.

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Statistical Analysis Using MS Excel 2013

FAQ

What is a Power PivotTable and how is it enabled?

Power Pivot is an add-in that is installed with MS Excel 2013 and helps to import
large amounts of data from multiple data sources. It helps to build simple data
models in Excel.
The Power Pivot add-in of MS Excel 2013 provides an environment to:

Connect and import millions of data from multiple data sources.

Create relationships between data imported from different data sources.

Create relationships between multiple tables in a PivotTable.

Filter data while importing.

Create your own hierarchies, calculated fields, key performance indicators,

and create advanced formulas using the Data Analysis Expressions (DAX)
language.

Create implicit calculated fields (originally referred to as measures) (Implicit

calculated fields are calculations that are performed when adding a numeric
field to the Values area of the Field List).

Manage connections to data.

Build data models that act as a basis for creating PivotTables, Pivot Charts,
and Power View.

To enable Power Pivot, perform the following steps:

1. Click File Options and then select Add-Ins. The Excel Options dialog box is
displayed.
2. Select Add-Ins.
3. Click COM Add-ins in the Manage dialog box.
4. Click Go.
5. Select the Microsoft Office PowerPivot for Excel 2013 check box.
6. Click OK. The Power Pivot tab is included in the Ribbon.

What is a data bar?

Data bars are colored horizontal bars that appear behind the values in a range. The
length of the bar depends on the value in the cell. The larger the value, the longer
the bar. Data bars help to visualize the quantitative relationship between values in
a range without having to use complicated formulas.

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Statistical Analysis Using MS Excel 2013

FAQ

What is meant by correlation coefficient?

The correlation coefficient is a measure of the degree to which two measurement
variables vary together. The coefficient is scaled such that its value is not
dependent on the units used for the measurement variables. For example, if height
and weight are the two measurement variables, then the value of correlation
coefficient will remain unchanged even if weight is converted from kilograms to
pounds.

What is Goal Seek?

Goal Seek is a what-if analysis tool in Excel used in situations when a user is clear
about the end result but not about the data required to achieve the result. Goal
Seek allows a user to accomplish this quickly and easily. Goal Seek calculates the
input value required by varying the value in the formula until the desired result is
achieved. Goal seeking involves asking questions such as This is the final value to
be achieved, what is the required input value?
Goal seek can be used for simple problems where there is only one adjustable cell
and only one return value.

What is meant by moving average?

The Moving Average analysis tool is used to predict values for the forecast period.
This predicted value is established by calculating the average value of a variable for
a specified number of preceding periods. A moving average provides trend
information and therefore, it is used to forecast inventory, sales, or other trends.
Moving average is helpful for sequential data as it helps to identify the trends in it.
The period can be daily, monthly, yearly, or any such interval for which an average
is calculated based on the number of periods. The average is then rolled through
the data so that the first average could be for 1 to 7 days, next average for 2 to 8
days, and so on.
The Moving Average tool generates moving averages for a given set of data
depending on the interval. It is a useful in situations where the data set values
show a continuous trend but the diverse values make it hard to identify the trend.

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FAQ

What is meant by ActiveX Control?

Excel supports a set of controls called ActiveX controls. An ActiveX control can be
used to run macros or scripts for automating a task. Macros can be written for a
control in the VBA programming language or by writing scripts in the Microsoft
Script Editor. ActiveX controls can be used on worksheet forms, with or without the
use of VBA code as well as on VBA User Forms.
ActiveX controls can be used when a more flexible design is required that cannot be
created by the normal Form controls. ActiveX controls contain several properties
which can be used to customize the fonts, behavior, and other characteristics.
A user can also handle different events occurring on interaction with the ActiveX
control. For example, different actions can be performed based on the option
selected by a user from a list box control. Also, one can query a database to refresh
a combo box with values when a user clicks a button.

What are the uses of Form Controls?

Form controls can be used when a you want to easily reference and interact with
data without using VBA code, and when you want to add controls to a chart sheet.
Thus, form controls can be useful for automating and simplifying a lot of tasks.
Uses of form controls are as follows:

To select items for a chart.

To select values from data sets.

To move data sets.

To adjust values in a data model.

To execute macros.

The Form Controls do not directly return a value from a list, but they return either a
numeric value or an index number relative to the position of the item in a list.
A user can place a control on a worksheet and link it to a cell to return a value
specifying the current position of the control. Also, the numeric value can be used
with the index, offset, or other worksheet functions to retrieve values from lists.

What is a Spin Button Control?

The Spin Button control is a simple toggle button which allows a user to increase or
decrease the value of a linked cell by a specified step value.
The Upper Limits, Lower Limits, Cell Link, Page Change parameters, and
Incremental Change can be set by right-clicking the control and then selecting
Format Control.

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FAQ

What is a Scatter Chart?

Scatter charts show the relationships between the numeric values in several data
series, or display two groups of numbers as one series on x-y coordinates. A scatter
chart consists of two value axes namely, the x-axis and y-axis, each showing a set
of numeric data. The values of both axes are combined into a single data point and
plotted as clusters or at irregular intervals depending on the type of data. Scatter
charts are usually used to display and compare numeric values, such as statistical,
scientific, and engineering data.
While creating a scatter chart, the x values should be placed in one row or column,
and then the corresponding y values should be added in the adjacent rows or
columns.
A scatter chart is drawn under the following situations:

To change the scale of the horizontal axis.

To apply logarithmic scale to an axis.

When the values for the horizontal axis are not evenly spaced.

There are too many data points on the horizontal axis.

To display data that consists of pairs or grouped sets of values.

To show similarities between large sets of data instead of differences

between data points.

How to insert a Form Control in a worksheet?

To insert a Form Control, click Developer Insert from the Controls group. Select
the desired form control from the Form Controls collection and click the cell in the
worksheet where form control has to be placed.

What is a Histogram?
The Histogram tool is used to generate histograms for a given range of data. It
helps to summarize large sets of data. Histogram tool summarizes data by first
segregating data into the various ranges provided. Histogram tool calculates the
total number of values in each range and displays each range along with the final
count in it. These range values are also known as bin values. Thus, a Histogram
tool generates a report for the number of occurrences of a value in a data set.
A histogram is a column chart that uses a collection of measurements and displays
the number of measurements, also called the frequency, that belong to the several
intervals, also called bins.

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Statistical Analysis Using MS Excel 2013

FAQ

How to clear data from a PivotTable report?

Excel allows clearing the data from a PivotTable report. The data in a PivotTable
report can be cleared by performing the following steps:
1. Select a cell in the PivotTable report.
2. Click PivotTable Tools Analyze Clear from the Actions group.
3. Select Clear All.

How to create a custom workbook template?

Users can create a custom workbook template that fulfills their requirements. This
custom template can be created on the basis of existing or sample workbooks. This
can be done by creating a workbook prototype (draft) and then saving it as a
template file with the extension .xltx. Later, open the file from the Templates folder
to create new workbooks whenever required.
To create a custom template, perform the following steps:
1. Create an Excel workbook with the data, charts, formulas, and so on required
for the template. In other words, it will have all the elements that are
required for the template to function.
2. Select File Save As to launch the Save As dialog box.
3. Type a name for the template in the File name box. Use some descriptive
name to make it easily accessible.
4. Select Excel Template (*.xltx) from the Save as Type list. If macros have
been recorded in the template, select Excel Macro-Enabled Template
(*.xltm).
5. Click Save. The file will be saved to the Templates folder by default unless
another location is specified. This will help to access the file easily when a
workbook has to be created by using this template.

What is the use of Option Button control?

The Option Button control allows selection of only one option at a time from a set of
alternatives. The Option Button returns a value into a linked cell indicating whether
the Option button is selected or not selected or the index number indicating its
position in the list of options.

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FAQ

What is the use of VLOOKUP() function?

The word VLOOKUP stands for vertical lookup. The VLOOKUP() function is used to
search a value in the first column of a range of cells. It then returns a value from
the same row in another column in a specified range.
Syntax:
= VLOOKUP (key, range , column_index_num , range_lookup)
where,
key: It is a value to be searched from the first column in the range. If the key value
is smaller than the smallest value in the first column, it returns a #N/A error value.
range: It is the range of data from which the key will be searched.
row_index_num: The column number in the range that contains the key.
range_lookup: A logical value (TRUE or FALSE only) to find for an exact or
approximate match. If it is TRUE or omitted, an approximate value is returned. The
next largest value that is less than the lookup value is returned when an exact
match is not found. Moreover, values in the first column of range must be placed in
ascending sort order. If FALSE is specified, and exact match is returned. Values in
the first column need not be sorted.

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