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"EDA" is Exploratory Data Analysis. This is an approach to understanding quantitative data that uses simple but powerful tools, most of them graphical in nature. "Smoothing" is an Excel add-in defining one new statistical function, SMOOTH. This function contains a wide variety of methods for teasing information out of a series of fluctuating values, such as stock prices, data from a sequence of experiments, ongoing management data, or any other sets of numbers collected over time. It implements all the methods described by John Tukey in chapters 7 and 16 of his book Exploratory Data Analysis (Addison-Wesley, 1977). In conjunction with Excel's native capabilities, including its scatterplot graphs, array functions, and mathematical transformations (logarithms, powers, exponents, and statistical distributions), SMOOTH offers a very powerful and flexible tool for understanding any series of data. As far as we know, it is the only freely available implementation of all of Tukey's smoothers. (Restricted implementations, such as the 3RSSH smoother, are easy to find. The commercial statistical software Minitab apparently has a fuller implementation.) More EDA applications are forthcoming. In the meantime, plenty of EDA-related tools are available on our statistical software page. |
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