There are many statistical functions built into Excel. I’ve already discussed the simplest statistical function, the AVERAGE function. (Statisticians often call this the mean, or the sample mean, but it’s simply the average of a set of numbers.) In this section I’ll discuss a few other statistical functions.
MEDIAN, MODE Functions
The median is the “middle” value in a set of numbers, in the sense that half are above it and half are below it. More precisely, when the values are sorted in increasing order, it is the middle value if there are an odd number of values, and it is the average of the two middle values if there are an even number of values. Fortunately, Excel takes care of the details with the MEDIAN function.
To use the MEDIAN function:
Enter the formula =MEDIAN(datarange), where datarange is any range that contains a set of values.
Note that if datarange contains labels or blank cells, these are ignored when calculating the median. This is true for the other statistical function listed below. (Of course, it is also true for the AVERAGE function.)
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