Hello all,
I am stuck trying to find a quantitative way to bucket transaction amounts. I want to back up the bucket sizes with statistics instead of just picking them out of a hat (for lack of a better term). Has anyone encountered this? I have attached a sample workbook with transaction amounts. Example file .xlsx
You didn't say what the bucket sizes were supposed to be.
However, a guess.
=LOOKUP(A2,$G$2:$G$5,$H$2:$H$5)
In the lookup table, the number on the LEFT is the STARTING point for that "bucket" and the term on the right is its description.
Glenn
None of us get paid for helping you... we do this for fun. So DON'T FORGET to say "Thank You" to all who have freely given some of their time to help YOU
I was wondering if there was a way to determine the bucket sizes statistically. Ie.. If my range is from 200k to 10M how do I determine if small is 200k-1m, 1m-5m is med, 5m-7m is large and 7m+ is super. Or do I just have to make those arbitrary determinations myself?
"Statistically" is a wonderfully vague description!! A suggestion...
=PERCENTILE.INC(A2:A210,(ROWS(G$2:G2)-1)/4)
copied down from G2 allocates the numbers into 4 equally sized groups (i.e 25 % of the values in each group).
""Statistically" is a wonderfully vague description!!" I love that quote I'm going to have to use that in my next meeting with my boss! LOL
Thanks for the help on this!
The one I use most often is "I use statistics like a drunk uses a lamp post... more for support than illumination" It always gets a laugh at conferences.
You're welcome.
It would be very nice if you were to just click the Add Reputation button at the foot of any of the posts of members who helped you reach a solution.
Finally, if that takes care of your original question, please click on "Thread Tools" from the menu link (just above the first post in the thread) and mark this thread as SOLVED.
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