Analyzing Your Data Like a Pro: Data Analysis Pt. 2

Now that you have installed the Analysis Toolpak, let's get down to analyzing your data!

In Column A and B we have the weekly closing stock price of the Dow Jones from 1/1/13 to 6/30/13.

If you wanted to statistically analyze the data, you could go through and manually enter all of the formulas. But who has time for that?! Instead, lets use our new-found friend, Analysis Toolpak.

1. Select all of the data in Column B. It does not matter if you include the heading. Go to the the Data tab and to the far right you will see Data Analysis. Click on that icon.

2. A menu will appear. Select Descriptive Statistics and OK.

3. The next form that appears should already be partially populated with the Input Range. Make sure if you included the heading that you click the "Label in first row". The output is about 2 columns wide and 14 rows. Also, be sure to select the "Summary statistics" box. Once you have made all of the changes, click OK.

4. You are all done! Now all of your statistics are in a single place and all you had to do was click a few buttons. Now the big decision...what to do with all of your extra time...