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Goodness of fit function

  1. #1
    J Shrimps, Jr.
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    Goodness of fit function

    Have several hundred thousand records in an Access Database.
    Exported select records to Excel.
    There are thirteen months of values per record,
    along with a derived Year-To-Date value.
    Used a weighted formula provided by Management
    to calculate the Year-To-Date (YTD) value for each
    record from the other thirteen values. YTD is calculated
    in part from the thirteen values, BUT other variables
    are part of the formula also.
    Is there a statistical function in Excel that displays the
    probability that one specific value, (in this case Year-toDate)
    was derived from the group of original (thirteen) values?
    example:
    values: 114 228 439 683 798 838 798 252 483 585 373 381 441
    and my weighted Year-to-Date is 521.
    Is there an Excel function that gives me the probability of
    how well the value 521 fits into the other thirteen values?
    Like chi-square maybe. Covariance. Or Correlation. I dunno.
    Trying to prove to management I replicated their
    formula precisely without having to laboriously re-create
    their stinkin' formula in Excel with the original data.
    Original data table is VERY large with many variables
    affecting the Year-to-Date calculation.
    For example, if the result of this Excel formula determined
    there was only a .0001% chance that 521 DID NOT
    "fit" (maybe not the right word), or could not be derived,
    from the other thirteen values,
    Management would be appeased.



  2. #2
    Forum Contributor Lotus123's Avatar
    Join Date
    11-07-2005
    Location
    Texas
    MS-Off Ver
    2007
    Posts
    153

    Maybe point you in the right direction?

    I'm more of a finance person than a statistics person, but under Excel add-ins is a Statistics Package. It includes some of the following formulas:

    CHIDIST
    COVAR
    CORREL

    Don't know if they do what you want, but maybe it will give you a starting point of where to look.

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