Note to all: This is always one of my favorite parts of the class because I get to de-mystify the standard deviation with my visual charts and long hand description. Once you understand standard deviation it is so helpful in data analysis and it makes the rest of statistics easy to understand also : )
Hi Mike. Another awesome stats / Excel lesson! Who says stats is boring? You make it fun, fun, fun!! Many thanks for the thorough and useful explanation of the details behind the functions and the visuals that are key to understanding. Thumbs up!!
You are welcome! This is always one of my favorite parts of the class because I get to de-mystify the standard deviation with my visual charts and long hand description. Once you understand standard deviation it is so helpful in data analysis and it makes the rest of statistics easy to understand also : )
Really, it all comes down to me not being such a smart guy - so in order for me to understand things, I must take a lot of time and break things down to simplest terms. Once I do that for myself, then I can make a video story to share the methods that I used to learn : ) Glad the videos are amazing for you, Joel!
Great explanation...hats off to you .....you are the best ❤️👌...Never came across such beautiful explanation of statistics ...thanks from bottom of my heart ❤️👌😊
So glad that you like it. It takes me a long time to create a story that makes it easy, but the process is fun and the result hopefully can make the world a better place : )
@@excelisfun I had to get up to speed on these things as part of a job I had in the early 2000's. This was all new to me then as I had only just reskilled to office work from being a builder. A very steep learning curve but very worth while in the end.
@@excelisfun I found that to be especially so after a friendly statistician for a large organisation I worked for explained and demistified the subject for me, it made it so much easier to work with these measures once I understood what their significance really is. I feel that this video should be required watching for anyone learning statistical functions in Excel - it is informative, succinct and easy to understand. Thanks for all the hard work you put into making these videos.
@@SyedMuzammilMahasanShahi Cool. I had a professor back in the 1990s at College of Alameda in California named Dr. Payne that made me fall in love with statistics and have been teaching it ever since : ) Go Team!
This is so useful for me at the moment Mike, as I am preparing for my ACCA exams, and this is part of the management accounting material. Thank you very much.
Yes, I bet the managerial accounting material did not break it down and explain the whys quite like this video, right? I remember studying standard deviation and confidence intervals in accounting and operations class, and they always made it so boring. I was lucky that I had a great professor of statistics, Dr. Payne at College of Alameda in California, who helped me to understand the hows and whys. I was always lucky when I took and passed the CPA exam the first time over two decades ago, they just happened to ask a statistics question on the auditing section and I nailed it because I was so good in stats - AND, that well written answer for the stats question helped me to squeak by and pass the exam : ) Good luck in your exams, B1897!!!!
@ExcelIsFun on your 5NSBP (an) tab you have a box and whisker chart and what looks like outliers included...do you have a video to show how you did that "with" outliers? Thank you!!
@@scottsheldon31 I think I understand what you are asking. Video #15 in this class shows the box and whisker chart: ruclips.net/video/wsiXA4dU5pE/видео.html
Hello, loving your series very much. I would like to ask a question, how do you differentiate between sample data and population data? Thank you very much once again.
Note to all: This is always one of my favorite parts of the class because I get to de-mystify the standard deviation with my visual charts and long hand description. Once you understand standard deviation it is so helpful in data analysis and it makes the rest of statistics easy to understand also : )
The best Variance video of all times and the best and easy to follow Variance and standard deviation lectures ever, thanks so much Mike🙏
Glad this helps, Ogwal!!
Hi Mike. Another awesome stats / Excel lesson! Who says stats is boring? You make it fun, fun, fun!! Many thanks for the thorough and useful explanation of the details behind the functions and the visuals that are key to understanding. Thumbs up!!
You are welcome, Wayne!!!
Best clarification and valuable examples!!! STAY BLESSED!!!!!!!!!!!!!
Glad you like it!!!!
Excellent explanation Mike. I like that you closed the loop on the reason for showing the long way to get to the standard deviation.
Glad you liked the loop closing (like a boomerang I guess) on the standard deviation, Jonathan!!!
You should have been my stat professor all those years ago. Thank you for this!
I wish I had been : ) : ) ... But wait, I can be now here at RUclips!!!
Thanks for the longhand standard deviation. I have a much better understanding of it now.
You are welcome! This is always one of my favorite parts of the class because I get to de-mystify the standard deviation with my visual charts and long hand description. Once you understand standard deviation it is so helpful in data analysis and it makes the rest of statistics easy to understand also : )
It's so amazing the way you simplify things.
Really, it all comes down to me not being such a smart guy - so in order for me to understand things, I must take a lot of time and break things down to simplest terms. Once I do that for myself, then I can make a video story to share the methods that I used to learn : )
Glad the videos are amazing for you, Joel!
Thanks Mike. I love the visuals on the Graph, although you have other videos on standard deviation. You cannot explain it better!!!!!!
I do have many vids on standard deviation, but this one might be the most fun ; )
You are welcome, Formula Guy John!!!
Great explanation...hats off to you .....you are the best ❤️👌...Never came across such beautiful explanation of statistics ...thanks from bottom of my heart ❤️👌😊
So glad that you like it. It takes me a long time to create a story that makes it easy, but the process is fun and the result hopefully can make the world a better place : )
This was a great refresher on standard deviation Mike, thanks!
You are welcome, Chris M!!! Do you use standard deviation in your analysis often?
@@excelisfun Hi Mike, not too often, so it was good to see it again and how it works.
@@chrism9037 Cool : ) : ) : ) : )
Your explanation is clear and easy to understand. It's useful, helping me to to compare performance of each investment. Thank you Mike :)
Yes indeed, standard deviation is very common in finance. I am glad that the videos can help, kiwikiow!!!
Thanks for this video. I wish that I had had this video when I was struggling to understand the deviations and variations.
I wish you had too. But now you got it, Roy!!! When you say struggling, was back in your school days, or in some particular work tasks?
@@excelisfun I had to get up to speed on these things as part of a job I had in the early 2000's. This was all new to me then as I had only just reskilled to office work from being a builder. A very steep learning curve but very worth while in the end.
@@roywilson9580 Stats and data analysis skills are so worth it, as you say Roy : )
@@excelisfun I found that to be especially so after a friendly statistician for a large organisation I worked for explained and demistified the subject for me, it made it so much easier to work with these measures once I understood what their significance really is. I feel that this video should be required watching for anyone learning statistical functions in Excel - it is informative, succinct and easy to understand. Thanks for all the hard work you put into making these videos.
@@roywilson9580 You are welcome!
Thanks Mike for this EXCELlent video.
You are welcome, Fellow Teacher!!! Do you ever have to teach statistics?
@@excelisfun Oh no. Never. I never liked statistics in my college but you made me fall in love with it. Now I'm planning to get a hold on to it.
@@SyedMuzammilMahasanShahi Cool. I had a professor back in the 1990s at College of Alameda in California named Dr. Payne that made me fall in love with statistics and have been teaching it ever since : ) Go Team!
Boom!Really Fun Class,Great Explanation Of Standard Deviation Nice And Easy To Understand...Thank You Mike :)
Yes, standard deviation is so much fun!!!!!!! You are welcome, darryl : )
This is so useful for me at the moment Mike, as I am preparing for my ACCA exams, and this is part of the management accounting material. Thank you very much.
Yes, I bet the managerial accounting material did not break it down and explain the whys quite like this video, right? I remember studying standard deviation and confidence intervals in accounting and operations class, and they always made it so boring. I was lucky that I had a great professor of statistics, Dr. Payne at College of Alameda in California, who helped me to understand the hows and whys. I was always lucky when I took and passed the CPA exam the first time over two decades ago, they just happened to ask a statistics question on the auditing section and I nailed it because I was so good in stats - AND, that well written answer for the stats question helped me to squeak by and pass the exam : ) Good luck in your exams, B1897!!!!
@@excelisfun Thank you very much Mike. The explanations in the book are quite general, therefore your videos are more than needed.
@@B1897forzajuve It seems so easy to make explanation not general, so I never understand why authors make there explanations to un-understandable lol
thank you!
You are welcome, kia!!!!
Thanks!
Thank you very much for the kind donation, N Sanch01!!!!! It helps me to keep making videos : )
Love it!
Love your videos and really appreciate your breakdown of standard deviation! How did you make the chart in tab V1?
ruclips.net/video/RdEiY3pQj7U/видео.html at the 24:52 minute mark shows how to make the chart
@@excelisfun Thank you very much!!
@ExcelIsFun on your 5NSBP (an) tab you have a box and whisker chart and what looks like outliers included...do you have a video to show how you did that "with" outliers? Thank you!!
@@scottsheldon31 I think I understand what you are asking. Video #15 in this class shows the box and whisker chart: ruclips.net/video/wsiXA4dU5pE/видео.html
@@excelisfun yes sir! You are a Hall of Famer in my book! Thank you for the quick replies. Much appreciated!
Hello, loving your series very much. I would like to ask a question, how do you differentiate between sample data and population data? Thank you very much once again.
🔥🔥🔥🔥🔥🔥
I think Standard Deviation is pretty cool ; )
Thanks!
Thanks for the epic support in helping me to keep making videos, Mengana!!!!!! : ) : ) : ) : ) : )
Do you use statistics a lot in your work?