Identify the Highest and Lowest Ratings for Products
Understanding the range of product ratings can provide valuable insights into customer satisfaction and product performance. Excel offers efficient functions to help identify the highest and lowest ratings within a dataset. In this article, we will demonstrate how to use the MIN and MAX functions to determine these values. We will also provide an example and an exercise for practice.
Example
Let's consider a table with the following product rating data:
| Product Name | Rating |
|---|---|
| Product A | 4.5 |
| Product B | 3.8 |
| Product C | 4.7 |
| Product D | 4.2 |
| Product E | 3.9 |
Exercise
Using the following product rating data, find the lowest, highest, average ratings, and the range of ratings:
Solution
In the exercise table:
- Cell C7 should contain the formula
=MIN(B2:B6)to find the lowest rating. - Cell D7 should contain the formula
=MAX(B2:B6)to find the highest rating. - Cell E7 should contain the formula
=AVERAGE(B2:B6)to find the average rating. - Cell F7 should contain the formula
=MAX(B2:B6)-MIN(B2:B6)to find the range of ratings.
When these formulas are applied, they will provide the lowest, highest, and average ratings, as well as the range from the given data set. By using these functions together, you can effectively analyze the product ratings, aiding in better decision-making and product management.