Frequently used Excel functions

Statistic Excel function / formula Example Brief explanation
Average (mean) AVERAGE(range) =AVERAGE(B2:B31) Returns the arithmetic mean of the numbers in the range.
Standard deviation STDEV.S(range) =STDEV.S(B2:B31) Measures how spread out the values are from the mean.
Standard error STDEV(range)/SQRT(COUNT(range)) =STDEV(B2:B31)/SQRT(COUNT(B2:B31)) Estimates the variability of the sample mean.
Correlation (Pearson) CORREL(range1, range2) =CORREL(B2:B31, C2:C31) Returns Pearson's correlation coefficient r (-1 to 1). Positive = variables vary together; negative = they vary oppositely.
Student's t-distribution T.INV.2T(prob, deg_freedom) =T.INV.2T(0.05, 4) Returns the two-tailed inverse of the Student's t-distribution.