BUSINESS MATHEMATICS & STATISTICS

LECTURE 4 Review Lecture 3 Calculating simple or weighted averages Using Microsoft Excel

Lecture 3 Review WORKSHEET Remuneration.xls

Average (Arithmetic Mean) = Sum /N Sum= Total of numbers N= Number of numbers

EXAMPLE 1 Numbers:10, 7, 9, 27, 2 Sum: = = 55 Numbers = 5 Average = 55/5 = 11

ADDING NUMBERS USING MICROSOFT EXCEL 1.Add numbers as you type them 2. Add all numbers in a contiguous row or column 3.Add numbers that are not in a contiguous row or column 4.Add numbers based on one condition 5.Add numbers based on multiple conditions 6.Add numbers based on criteria stored in a separate range 7.Add numbers based on multiple conditions with the Conditional Sum Wizard

Add numbers Add numbers as you type them Type =5+10 in a cell Result 15. See Example 2

Add all numbers in a contiguous row or column 1.Click a cell below the column of numbers or to the right of the row of numbers 2.Click AutoSum 3. Press ENTER See Example 2

Add numbers that are not in a contiguous row or column Use the SUM function See Example 3

Add numbers based on one condition Use the SUMIF function to create a total value for one range, based on a value in another range Similar to Example 4

Add numbers based on multiple conditions Use the IF and SUM functions to do this task See Example 4

Add numbers based on criteria stored in a separate range Use the DSUM function to do this task Study DSUM Example

DSUM Adds the numbers in a column of a list or database that match conditions you specify. Syntax DSUM(database,field,criteria) Database is the range of cells that makes up the list or database. Field indicates which column is used in the function. Criteria is the range of cells that contains the conditions you specify.

DSUM EXAMPLE =DSUM(A4:E10;"Profit“;A1:F2) The total profit from apple trees with a height between 10 and 16 (75)

AVERAGE USING MICROSOFT EXCEL 1.Calculate the average of numbers in a contiguous row or column 2.Calculate the average of numbers not in a contiguous row or column

AVERAGE Returns the average (arithmetic mean) of the arguments. Syntax AVERAGE(number1,number2,...) Number1, number2,... are 1 to 30 numeric arguments for which you want the average.

WEIGHTED AVERAGE Av.1 x weight 1 + Av. 2 x weight Av. N x weight n Weights in fractions

BUSINESS MATHEMATICS & STATISTICS