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Thread: Statistical chart (Excel 2003)
2008-04-20, 14:23 #1
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- May 2001
- Philadelphia, Pennsylvania
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Statistical chart (Excel 2003)
I have a large list of assets with varying lives, and a cost for each asset. I want to show in a chart the distribution of lives so that I can determine the range where most of the cost is covered. Sort of the standard distribution idea, I think. I am looking for some guidance on how to do this: would a pivot table be best, or some other approach? I have so many rows of data that any chart would be too detailed to be useful. I suspect there is some function or formula directly in Excel that I am not familiar with that would quicly give me my answer. Thanks in advance for the advice!
2008-04-20, 14:52 #2
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- Jul 2002
- Pittsburgh, Pennsylvania, USA
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Re: Statistical chart (Excel 2003)
I am not entirely sure of what you have, but If i understand what you have, 3 columns:
One option would be to plot life vs Cost (or Cost vs Life, whichever is more appropriate) and to group them into quadrants (Hi Cost/Hi life, HiCost, lo Life, etc) or if many items , 9 sections (Hi, Med, Low for each). You could use the chart to setup the criteria you want to use then add a column calculating the criteria and then list /sort to display the assets for each "type".
The chart and list could be used to decide which assets are more "worthwhile" (low cost, high life) and which are dogs (high cost, low life). It comes down to is the life of the object is worth the cost and the chart could give you some ideas of which groups need to be focused on as items to consider...