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#1
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Business Case Charting
15 supervisors submit estimates of time to complete a task. I would like to
plot the values, and, a normal distribution curve - then, using the chart, draw a consensus as to the most accurate time for the task. What would comprise such a chart and, would there be a way to model the estimated times to produce the consensus (formulas, functions, VBA, etc)? Thanks, Phil |
#2
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Phil Hageman
15 supervisors submit estimates of time to complete a task. I would like to plot the values, and, a normal distribution curve - then, using the chart, draw a consensus as to the most accurate time for the task. What would comprise such a chart and, would there be a way to model the estimated times to produce the consensus (formulas, functions, VBA, etc)? Thanks, Phil Hi Phil, I am not sure that you will necessarily get a "normal curve". I might be inclined just to plot a histogram. Tools | Data Analysis | Histogram. Just food for thought. Regards, Kevin |
#3
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I agree that it's usually a good idea to first "look at the data." And, if
you want a better histogram, arrange the fifteen values in a column on a worksheet, and use my free add-in to obtain the frequency distribution and histogram. Visit the "Better Histogram" page at www.treeplan.com. - Mike www.mikemiddleton.com ++++++++++++++++++ "Kevin H. Stecyk" wrote in message ... Phil Hageman 15 supervisors submit estimates of time to complete a task. I would like to plot the values, and, a normal distribution curve - then, using the chart, draw a consensus as to the most accurate time for the task. What would comprise such a chart and, would there be a way to model the estimated times to produce the consensus (formulas, functions, VBA, etc)? Thanks, Phil Hi Phil, I am not sure that you will necessarily get a "normal curve". I might be inclined just to plot a histogram. Tools | Data Analysis | Histogram. Just food for thought. Regards, Kevin |
#4
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Michael R Middleton wrote...
I agree that it's usually a good idea to first "look at the data." And, if you want a better histogram, arrange the fifteen values in a column on a worksheet, and use my free add-in to obtain the frequency distribution and histogram. Visit the "Better Histogram" page at www.treeplan.com. - Mike www.mikemiddleton.com Hi Mike, Thank you for commenting. I found your website very interesting and have bookmarked it. Best regards, Kevin |
#5
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Mike and Kevin,
Thanks for your replies - I'll set up a test case and see if the histogram, plus a mean and standard deviation provide the consensus I'm looking for. FYI, John Walkenback discribes a normal distribution/histogram combination chart in his book "Excel Charts" (pg. 281), but he's a little sketchie on its construction. This may a good model, but will take some work to figure out. Regards, Phil "Kevin H. Stecyk" wrote: Michael R Middleton wrote... I agree that it's usually a good idea to first "look at the data." And, if you want a better histogram, arrange the fifteen values in a column on a worksheet, and use my free add-in to obtain the frequency distribution and histogram. Visit the "Better Histogram" page at www.treeplan.com. - Mike www.mikemiddleton.com Hi Mike, Thank you for commenting. I found your website very interesting and have bookmarked it. Best regards, Kevin |
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