Statistical Functions
Beginner
MIN Function (Statistical)
The floor, and how close you came to it.
Task:
You are deciding whether to raise the reorder level on a fast-moving part. Put the lowest stock level of the week in B7.
Learning Objectives:
- Find the smallest value in a range
- Read a minimum as a risk measure
- See what an average conceals
Hints
Solve without hints for +5 XP
The data in this exercise
This is the grid you start with. Cell references in the task — B6, C2 — point at the row numbers and column letters below.
| A | B | |
|---|---|---|
| 1 | Day | Stock at close |
| 2 | Monday | 142 |
| 3 | Tuesday | 96 |
| 4 | Wednesday | 31 |
| 5 | Thursday | 88 |
| 6 | Friday | 117 |
| 7 | Lowest point |
What this exercise teaches (contains the answer)
The week averaged 94.8 units in stock, which sounds perfectly comfortable. On Wednesday there were 31. The average hides the moment it nearly went wrong, and a reorder level has to be set against that moment rather than against the typical day.