Data Analysis & Simulation

Archive for January, 2009

Using Distribution Functions in Excel Sheets

Tuesday, January 13th, 2009

There are many probability distributions developed by statisticians to model random data of different kinds, ranging from business data, finance data (stock prices) to engineering data (system failures) and environmental data (max. flood flows). While the standard Excel package includes some basic statistical functions, its support for probability distributions is very limited and almost useless for real world modelling applications. This article discusses the worksheet functions provided by EasyFitXL, the distribution fitting add-in for Excel that can be applied to perform a range of decision-making calculations using a variety of probability distributions… read the full article

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