How to calculate variance using the Data Analysis Toolpak Add-In?
Variance is a measure of how spread out the values are in a dataset. It is calculated by averaging the squared deviations from the mean. A higher variance indicates greater variability among the values, while a lower variance indicates less variability.
There is also a possibility to calculate the Variance without using an Excel formula. Instead of the Var.S formula, you will use an Excel add-in.