Variance is related to standard deviation as standard deviation is the square root of variance.

With this tool, you can create charts about your current statistical data.

Its more of a simple data storage and analysis application based on formulas you create.

Complex formulas can be difficult to create in Excel, and there is no reason to recreate what has already been done using the Analysis Toolpak.

The Toolpak is mainly used by statisticians that want to perform calculations for t-tests, chi-square tests and correlations.

Even a statistician can take advantage of these tools by saving time writing formulas for complex analysis.

Some are more commonly used than others, and some of them are better understood by laymen that just need simple analysis.

The common ones that are closer to basic analysis will be explained in this article.

With your spreadsheet file open, click the File tab, which brings you to a window where you can set configurations on your global Excel interface.

In the Manage section, make sure the Excel Add-ins option is selected, and then click the Go button.

A window opens where you choose the add-in that you want to install.

To install the Analysis Toolpack tool, check the box next to its name and click OK.

If its already installed, the tool will have a checkmark next to it.

If its already installed, you can click Cancel to close the window as well.

Return to the worksheet that contains your data, and youre now ready to use the tool for analysis.

Click the Data tab in the main Excel interface, and the Data Analysis button can be found in the Analyze section of the menu.

You choose one of these tools, and then a new window will open that asks you to enter configurations specific to the chosen tool.

The one you choose depends on your goals and the information that you want to analyze.

After a description of common tools, then you can make a decision on the tool that is best for your spreadsheet and goals.

Interested in learning more Why not take an online class in Advanced Excel 2019.

Standard deviation explains how spread apart numbers are from the mean.

Its a way to get an average with values that are close to this average to give you an idea of what is standard vs values that stand as outliers.

Data Analysis Pack For Mac Excel 2011