Tuesday, November 26, 2019

STDEV (Estimates standard deviation based on a sample)
















What Does It Do?
This function calculates the sample population standard deviation of a list of values.
A sample population is used when the list of values represents a sample of a population.
Syntax
=STDEV(Range1,Range2,Range3 through to Range30)
Formatting
No special formatting is needed.
Example
The table below was used by a company interested in buying a new machine to pack washing powder.
Three machines were short listed and allow to run for a day.
At the end of the day four boxes of soap powder were picked at random from the production of each machine.
The boxes were weighed and the =STDEV() function used as these boxes only represented a sample of the complete days production.
The machine with the smallest deviation was the most consistent.
















Explanation of Formula:

This finds the lowest value:                                =MIN(H34:H36)
This finds the position of the lowest value:         =MATCH(MIN(H34:H36),H34:H36,0)

This looks down the Machine column to
find the machine name:                         =INDEX(C34:C36,MATCH(MIN(H34:H36),H34:H36,0))

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