Look at the diagrams below – they show the same numbers, but the vertical scales, the y-axis, are different. In this example we see how $1,000 grows to almost $300,000 in 50 years with a 12% yearly return.
The blue diagram has a linear scale on the y-axis, so the distance between 0 and 50,000 is the same as the distance between 200,000 and 250,000. The yellow diagram has a logarithmic scale with base 10, which means that each interval is increased by a factor of 10. Read more to find out how to do this in Excel, and why you may or may not want to use a logarithmic scale:
Benford’s Law describes the phenomenon that in a large dataset, the leading digit of each number does not occur with the intuitively expected probability of 1:9 (11.1%), but rather with a much larger probability for the smaller numbers. For more details on Benfords’s Law, you can read the Wikipedia Article about it, but keep on reading here if you want to learn how to use Excel to check if a dataset is consistent with it. It’s very easy!
For this example I have used population data for all the counties of the United States from census.gov:
Excel has built-in functionality to handle percent (%), but there is no automatic way to calculate parts per million, basis points, permyriad or per mille in Excel. It is easy to calculate though, but let’s start with the definitions:
When you calculate prices you usually know the cost price and the desired profit percentage, so all you have to do is to add the profit to the cost price in order to calculate the sales price. However, the price list might not look as nice as you want: