Like many other Excel functions , INV.GAMMA and INV.LOGNORM have a specific utility in the program. They are related to the logarithms and the gamma distributions of the data that we load to be calculated.
All Excel formulas and functions are designed to process numerical calculations that can be complex for many people. In the field of Statistics, this program represents an essential tool of great utility for any kind of work. So pay close attention to the uses of the INV.GAMMA and INV.LOGNORM functionalities in Excel and their importance.
Uses of INV.GAMMA and INV.LOGNORM functions in Excel
The INV.GAMMA function works with probability values, alpha and beta as distribution parameters in statistics. It returns the inverse of the cumulative gamma distribution of the values within a given calculation or sheet.
It is essential to study and understand variables or numerical data, which have a distribution that may be skewed . They work directly with statistical data, which requires deep understanding and analysis to be fully interpreted.
As we mentioned earlier, functions like the ones we are describing, work and process only numeric data . This means that, when we apply it to a word, it will throw a calculation error that will be reflected visually.
On the other hand, the probability must not be less than 0, nor greater than 1 , because the function will throw an error. If alpha or beta are less than or equal to 0, the function will consider the operation as a calculation error.
The case of the INV.LOGNORM function , it works with the probability, the mean value and standard deviation. This function serves to return the inverse of the logarithmic-normal function of x, taking into account all the respective values.
This is a function that is useful for analyzing data or elements that have been transformed with logarithms . Like the previous function, this one has to comply with a series of parameters so that it does not end up giving an error.
The elements to be processed have to be numeric , because, if not, the function will give an error. Likewise, the probability value cannot be greater than or equal to 0 or equal to 1, because it will throw an error.
Finally, if the standard deviation value is less than or equal to 0, the function will not process the calculation.
Other useful Excel functions and their more functional features
Excel not only works to do algebraic and statistical calculations, but also those calculations that are related to trigonometry . It must be remembered that trigonometry is used to measure the triangles and interpret them in a correct way.
Some common functions used in this regard are COS and COSH , related to the cosine of a triangle. Excel understands these functions and helps you process them quickly without taking much of the time and effort that is used frequently.
When we are working with a lot of data that is difficult to identify or find with the naked eye, a function is available to help. It is CUBE SET , and it helps to find the highest value in the database within Excel.
The DEGREES function is used to determine the degrees of the intervals within a specific statistical calculation. It refers to the fact that it allows to reveal and also transform the values of an angle into radians, to understand them.
Finally, there is the FIND function , which has a much simpler utility than many other previous functions. This is specifically used to find any element or data of the document that we want to modify or evaluate in a careful way.
Each of these functions requires basic knowledge of Excel to work completely and without any errors. It may cost a bit at first, but when we know how to use the commands, the whole process becomes much easier.
In Look how it’s done we have a special section for people who want to know about Excel, and need to learn. You can consult each of these articles so that you have clearer ideas of how the corresponding calculations are made.
