Microsoft Office Tutorials and References
In Depth Information
Chapter 13: Data Analysis—The Excel Easy to Use Statistics Add-In
Data Analysis—The Excel Easy
to Use Statistics Add-In
Excel has several add-ins that are useful in a business environment. An Excel add-in
is a file/workbook (usually with an extension.xlas in Excel 2010 and 2007 or.xla
with earlier versions) that can be activated when you open Excel. The file contains
VBA code (macro) that adds more features to Excel; usually it is in the form of new
Add-ins provide an excellent way of increasing the power of Excel and they are
the ideal vehicle for distributing your custom functions or procedures. Excel is
shipped with a variety of add-ins ready for you to load and start using, and many
third-party add-ins are available to download from a variety of sites.
One of the pre-programmed add-ins in Excel is called Data Analysis (called
Analysis ToolPak before installation and/or activation). The ToolPak contains a
variety of statistical functions
I will demonstrate a couple of them here.
First, check to see if the Analysis ToolPak is activated in your Excel. Look for
on the right side of the Data ribbon. If it is not there, you will need
to activate it. In previous Excel versions, it is the last item in the Tools menu.
First things first: If you have to install the Analysis ToolPak, follow these steps:
1. Click on the File
Icon in Excel 2007).
2. In the menu click on Excel Options.
3. In the Excel Options menu select Add-Ins on the left.
4. In the Add-Ins menu choose the Analysis ToolPak and click on Go.
5. Choose again the Analysis ToolPak in the small menu and click OK.
6. Click on Yes when you are asked to install it.
It will take Excel a few seconds to install the Analysis ToolPak. See Figure 13.1.
All the other Excel add-ins can be activated/installed with the same procedure.
In Excel 2010 or 2007 you may find the Add-ins when you click the Windows
button and select Excel Options.
Now that the Data Analysis ToolPak add-in is on the right side of the Data ribbon, I
can use it to easily perform many of the calculations that were carried out in the
previous chapters. I am going to calculate the same set of statistical functions one