Excel Formulas and Functions For Dummies by Ken Bluttman

Author:Ken Bluttman
Language: eng
Format: epub, pdf
Publisher: Wiley
Published: 2010-04-11T16:00:00+00:00

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As bread sales increase, so do sales of butter. Therefore, sales of butter are expected to have a positive relation to sales of bread. These items complement each other. In contrast, bread and muffins compete against each other. As bread is purchased, the sales of muffins likely suffer because people will eat one or the other. Without even using any function, you can conclude that bread sales and butter sales move in the same direction and that bread sales and muffin sales move in differing directions. But by how much?

Figure 9-12 shows an example that measures snowfall and the number of customers coming into a store. Two covariance calculations are given — one for snowfall between 0 and 3 inches, and one for snowfall between 0 and 8 inches.

Figure 9-12: Using COVARIANCE to look for a relationship between two data sets.

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