To calculate variance in Excel, you can use the VAR function. Here are the steps:
- Enter your data into a column or row in an Excel worksheet.
- Click on an empty cell where you want to display the variance.
- Type “=VAR(” into the cell.
- Select the range of data you want to calculate the variance for. For example, if your data is in cells A1 through A10, select those cells.
- Close the parenthesis by typing “)” and press Enter.
The cell will now display the variance of your data.
Here’s an example formula to calculate variance for a range of data in cells A1 through A10:
=VAR(A1:A10)
You can also calculate variance for a population by using the VARP function instead of VAR. The process is the same, but you would replace VAR with VARP in the formula.
It’s important to note that variance is a measure of the spread or variability of your data. A high variance indicates that your data points are more spread out from the mean, while a low variance indicates that they are closer together.