Calculating Standard Deviation and Interquartile Range with Excel

Posted on by Daniel Libertz Posted in Learning Module Pages

Calculating Standard Deviation with Excel

To calculate the standard deviation in Excel, you can use the following formula:

=stdev()

For price in the Airbnb data set, I used this:

=stdev(j2:j48896)

I got $240.15 as the standard deviation for price per night.

 

Calculating Quartiles and the Interquartile Range with Excel

In Excel, to obtain the minimum and the 4 quartiles, you can use the following (put the range of cells in the parentheses; for Q1 and Q3, put the range before the comma and make sure you put the 1 after the comma for Q1 and a 3 after the comma for Q3):

  • Minimum (same as Quartile 0): =min()
  • Quartile 1: =quartile( ,1)
  • Quartile 2: =median()
  • Quartile 3: =quartile( ,3)
  • Maximum (same as Quartile 4): =max()

Use the quartiles to subtract Q1 from Q3 and to calculate outliers from the outlier formula on the previous page.

 

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