The new version of EasyFit introduces a number of features targeted at business users dealing with probability data analysis, modeling, and simulation. For a complete list of new features and fixes in EasyFit 4.0, please click here.
The free 30-day trial version of EasyFit is available for download.
EasyFitXL – EasyFit for Excel
Many businesses use Excel for their data analysis & modeling needs, and even though Excel provides only a basic set of statistical functions, it can be easily extended by installing third party add-ins. An add-in is a piece of software that integrates into Excel and allows you to perform specific tasks which are impossible (or hard, time consuming etc.) to do using Excel alone.
EasyFitXL is a new Excel add-in which ships with EasyFit and allows to use most of the features available in EasyFit right in Excel. With EasyFitXL, you can fit distributions to worksheet data, view distribution graphs, perform probability calculations, and generate random numbers without the need to run EasyFit (the stand-alone application).
The installation process of EasyFitXL is very straightforward: if you have Excel (version 2000 or later) installed on your computer, the EasyFit setup application will automatically install and configure EasyFitXL to properly work with your copy of Excel.
Once EasyFitXL is installed, it can be accessed from the main menu of Excel:
In Excel 2007, it can be found on the Add-Ins page:
Along with the main menu commands, EasyFitXL provides a large number of functions which you can use in Excel worksheets and VBA applications to create advanced models dealing with uncertainty. The worksheet functions are divided into three large categories displayed in the Function Wizard:
The following worksheet and VBA functions are available for more than 40 probability distributions:
- PDF (probability density function)
- CDF (cumulative distribution function)
- inverse CDF (quantile function)
- hazard function (failure rate in reliability analysis)
- distribution mean/variance/standard deviation
- random number generation
These functions can be applied to solve a wide array of problems, ranging from simple probability calculations to Monte Carlo simulation.