Hi Friends,
I have a lot of complicated data. In one specific column, I have about 10,000 rows of numeric data that I would like to place into some frequency bins. I am familiar with the Data Analysis addin option for binning, but i need something that is more dynamic since this data changes daily.
I am looking for a formula that will help me determine the optimal number of bins that I should include. For example, in a column of data I have numbers ranging from 0 - 1545 with the median being 681 and the mode is 598. Any thoughts on how to determine how bins I need? Once I have this, then i will use the FREQUENCY() array to calculate the frequency for each bin.
Thanks,
John
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