Page 31 - Industrial Process Plant Construction Estimating and Man Hour Analysis

Chapter 1

Introduction to construction

statistics using Excel

1.1 Section introduction—Introduction to construction
statistics using Excel

This section provides individuals in construction and engineering a basic
understanding of how to set up and use excel templates and spreadsheets. Excel
is a powerful spreadsheet program that is used to perform mathematical and sta-
tistical calculations. The use of computer spreadsheets—specifically Microsoft
Excel—demonstrates how templates and spreadsheets can be used to automate
statistical functions. In addition, this section will provide an introduction to the
basic operation of Excel. This includes how to set up Excel templates and
spreadsheets, formatting spreadsheets, writing statistical and mathematical for-
mulas, using the basic statistical functions, entering data, and printing results
and graphs. The purpose of the following Excel statistical templates and spread-
sheets is to make the connection to construction forecasting, learning curves,
work sampling, risk analysis, and bidding strategy. To get the most benefits
from the statistical applications, the reader should understand exponents, log-
arithms, and simple algebraic manipulations. It also helps, but is not required,
to understand regression analysis. Readers whose mathematics is limited can
plug the statistical functions into Excel templates and spreadsheet to get the
results they need. The use of mathematics and statistics in construction is nec-
essary to reduce risk in the bidding process and validate historical data to
develop detailed accurate estimates. The applications should be of considerable
value as a reference for those engaged in design, estimating, forecasting, and
bidding projects in the industrial construction industry.

Industrial Process Plant Construction Estimating and Man-Hour Analysis.
https://doi.org/10.1016/B978-0-12-818648-0.00001-6
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