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EXPECTED VALUE AND STANDARD DEVIATION
This program calculates the expected value (cell B56), variance (E56), standard deviation
(E58), the coefficient of variation (E60), and the Z-statistic (E62), given a set of possible
outcomes and the probability distribution.
INPUTS (will appear in blue):
1) Enter up to five probabilities (as decimals) in cells A27 - A31.
The total must add up to 1.
2) Enter up to five outcomes (R), corresponding to the probabilities,
in cells B27 - B31.
3) If a Z-statistic is desired, enter a value for X in cell B40.
The caret ^ in formulas signifies an exponent: x^2 is x squared.
Sample data have been entered as an example.
P R R-ER (R-ER)^2 P*(R-ER)^2
0.10 1000 -2000 4000000.00 400000.00
0.25 2000 -1000 1000000.00 250000.00
0.30 3000 0 0.00 0.00
0.25 4000 1000 1000000.00 250000.00
0.10 5000 2000 4000000.00 400000.00
1.00 3000 Variance 1300000
Stand. dev. 1140.18
Coeff. of var. 0.380
X 1000 Z-statistic -1.7541