Statistical calculations with ranges (2003)

Topic

New Reply

We have a worksheet with data collected every hour of every day for the last 6 years. The data collects a low value and a high value for each hour. We want to show the average for the 8 highest values each day and the average for the 8 lowest values for the day. And, then we need to show the difference between those 2 averages.

Date Hour Ending Low High
1/1/2003 100 $22.00 $25.00
1/1/2003 200 $22.00 $25.00
1/1/2003 300 $22.00 $25.00

Any ideas (not using code unless there is no other way)?

Reply | Quote

Replies

Assume you have (for example) the date of interest in F2.
In G2 you can calculate the average of the 8 smallest values of LOW column by entering the array formula (confirm with ctrl-shift-enter):
=AVERAGE(SMALL(IF($A$2:$A$2500=F2,$C$2:$C$2500),ROW(INDIRECT(“1:8”))))

In H2 you can calculate the average of the 8 largest values of HIGH column by entering the array formula (confirm with ctrl-shift-enter):
=AVERAGE(LARGE(IF($A$2:$A$2500=F2,$D$2:$D$2500),ROW(INDIRECT(“1:8”))))

In I2 you can calculate the difference:
=H2-G2

Adjsut the ranges as needed.

Steve

Reply | Quote

I’m doing something wrong, Steve. I am getting a zero. I think I’ve adjusted my formula wrong. Can you take a look and tell me what I’m doing wrong?

Thank you!

Reply | Quote

Steve’s idea was that you would enter the date for which you want the averages in cell F2. Since you already have other data in column F, you should enter the date in another cell and use that in the formula.
And instead of I2:I50925, you should refer to the column containing the Low values.

Reply | Quote

I have attached a small sample workbook with dummy data and formulas.

Reply | Quote

Thank you! That makes perfect sense now (of course). It worked like a charm!

Reply | Quote