Exam 8: Statistical Functions

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The FORECAST.ETS function returns a confidence interval for a forecast at all future dates.

(True/False)
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The ________ function returns the variance of a population.

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Which function would you use to determine the number of occurrences of a particular value in a dataset?

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The Analysis ToolPak is available on the Insert Tab.

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Which of the following is not an argument in the PERCENTRANK.INC and PERCENTRANK.EXC functions?

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Relative Standing measures ________.

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A Forecast worksheet is a business intelligence tool that projects trends based on historical data.

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FORECAST.ETS.SEASONALITY returns the projected quarter of the year when a forecasted value will happen.

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The k argument in a PERCENTILE function is a value from 0 to 1.

(True/False)
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Match each of the following concepts to its best description:
Multiple criteria
Measures average or likely distribution from the most likely outcome.
Central tendency
Mathematical functions performed only on values which meet specified criteria
Relative standing
More than one condition
Correct Answer:
Verified
Premises:
Responses:
Multiple criteria
Measures average or likely distribution from the most likely outcome.
Central tendency
Mathematical functions performed only on values which meet specified criteria
Relative standing
More than one condition
Correlation
Relates a data point to its population
Conditional math
The relationship between values of a dataset.
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=AVERAGEIFS(C2: C64,A2: A64,"Blue",B2: B64,"Black") Returns an average of Column C of the items which are either Blue or Black.

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The ________ function returns the length of the repetitive pattern Excel detects for the time series.

(Short Answer)
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________ is a measure of how two sets of data vary simultaneously.

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Excel 2016 has NO new functions in the Analysis ToolPak.

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Two or more conditions can be used with SUMIFS function.

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A(n)________ is a dataset that contains a manageable subset of a population.

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What is SS in an ANOVA summary report?

(Multiple Choice)
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What is the first argument of an SUMIFS function?

(Multiple Choice)
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Match each of the following concepts to its best description of its purpose:
FORECAST.LINEAR
Returns the requested statistic for the forecast
FORECAST.ETS.SEASONALITY
Calculates a future value along a linear trend by using existing values
FORECAST.ETS
Returns a confidence interval for the forecast value at the target date
Correct Answer:
Verified
Premises:
Responses:
FORECAST.LINEAR
Returns the requested statistic for the forecast
FORECAST.ETS.SEASONALITY
Calculates a future value along a linear trend by using existing values
FORECAST.ETS
Returns a confidence interval for the forecast value at the target date
FORECAST.ETS.STAT
Returns the length of the repetitive pattern for a time series
FORECAST.ETS.CONFINT
Returns the forecasted values for a specific future target date using exponential smoothing
(Matching)
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Match each of the following terms to its description:
Population
Add-in which assists with calculating inferential statistics
Analysis ToolPak
Helps analyze differences between groups and relationships within groups of data
Descriptive Statistics
Defines characteristics of a population
Correct Answer:
Verified
Premises:
Responses:
Population
Add-in which assists with calculating inferential statistics
Analysis ToolPak
Helps analyze differences between groups and relationships within groups of data
Descriptive Statistics
Defines characteristics of a population
Inferential Statistics
All the members of a group
Sample
A manageable subset of a dataset
(Matching)
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