Statistics Practical: Mean and Variance (Statistics, BBA 3rd Semester)1 min read

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Learning Objectives

How to calculate mean, variance, and standard deviation in Excel?

Rangefrequency
0-101
10-207
20-3014
30-407
40-501
Total30

Source: A hypothetical data

Step 1: Calculating the mid value

RangefMid value (m)
0-10[D12] 1 [E12] 5
10-20715
20-301425
30-40735
40-50 [D16] 1 [E16] 45
Total30 

Calculating the mid value is an easy task. Justing taking an average of the range.

[D12] [D16] [E12] [E16] are the cell numbers of excel.

Step 2: Calculating mean, variance, and standard deviation

Mean25=(SUMPRODUCT(E12:E16,D12:D16))/D17
Variance73.333=(SUMPRODUCT(D12:D16,E12:E16,E12:E16)/D17)-Mean^2
Standard Deviation8.5635=SQRT(Variance)

Source: Excel 2013

Within these two steps, we can get mean, variance, and standard deviation.

For more clarification, watch our video tutorial


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