Excel and Statistics: Standard Deviation, Mean and Min?
I have a set of data for which I have already calculated the Standard Deviation (cell C8, which is 0.083), the Mean (cell C3, which is 29.81) and the Minimum (cell C4, which is 29.67). However, I would like to write a formula in Excel to figure out how many Standard Deviations away from the Mean the Minimum value actually is while using absolute cell references for the Mean and Standard Deviation values.
Can anyone please help? Thanks!
- 1 decade agoFavorite Answer
= (C3 - C4) / C8
You are subtracting the minimum from the mean to find out how far they are from each other. Then you are dividing by the standard deviation to see how many standard deviations this difference represents.
The answer is 1.68.