Statistical Tools

Question 1

MEAN

Answer 1

=Average(cell range)

Question 2

Coefficient of variation

Answer 2

Standard deviation / mean x 100%

lower % is better

Question 3

Standard Deviation

Answer 3

=STDEV(cell range)

lower range is better

Question 4

Normal Distribution

Answer 4

Key % is given in exam

Within 1 Std Dev of Mean = 68.2% of values
Within 2 Std Dev of Mean = 95.4% of values
Within 3 Std Dev of Mean = 99.6% of values