Statistical Analysis with Excel For Dummies, 5th Edition

Chapter 6

Meeting Standards and Standings

IN THIS CHAPTER

Standardizing scores

Making comparisons

Working with ranks in files

Rolling in the percentiles

In my left hand, I hold 15 Mexican pesos. In my right, I hold 100 Colombian pesos. Which is worth more? Both currencies are called pesos, right? So, shouldn't the 100 be greater than the 15? Not necessarily. Peso is just word-magic — a coincidence of names. Each one originates in a different country, and each country has its own economy.

To compare the two amounts of money, you have to convert each currency into a standard unit. The most intuitive standard for US residents is our own currency. How much is each amount worth in the US? As I write this, 15 Mexican pesos are worth 76 cents. One hundred Colombian pesos are worth 3 cents.

I show you how to use statistics to create standard units. Standard units show you where a score stands in relation to other scores in a group. I then go on to show you some additional ways to determine a score's standing within a group.

Catching Some Z’s

A number in isolation doesn't really tell a ...