MS Excel as a Tool for Interpreting Data - Essay Example

However, in order for managers to understand what the data they have implies, they must make use of analysis tools. Microsoft Excel provides them with such tools. In Excel, managers find different analysis tools particularly those used for statistics. Hypothesis testing is one area in which Excel may be employed. The program offers several functions that may be used for hypothesis testing. Such functions include the Chi-square, t-test, z-test, as well as other statistical analysis tools that are most often used to test certain hypotheses.

Simply put, a manager can make decisions that are hinged on sound and logical analysis that he or she performs through Excel. Decision making involves the interpretation and analysis of data. Utilizing Excel, managers can perform several types of analysis that are usually employed. These include regression analysis, statistical analysis, and trend analysis. With Excel, the manager has an efficient and time-saving tool to aid his decision-making process.2. What potential legal and ethical issues could arise if the information gained in this survey was used to create an ideal profile of characteristics that the company looked for when hiring employeesThe survey should merely aid the company in understanding their workforce better.

However, in no way must its results be used to profile the future hires of the company as well as for the ideal employee of a company.Since the respondents in the survey came from different companies, their level of job satisfaction is based on different scenarios and factors. Thus, it will be prejudicial to judge a person as unfit for a certain position simply because the survey indicated that he will register a low satisfaction.Prejudice against the person involved is the main reason why the survey's results cannot be used by companies.

It will be discriminatory against men to reject them just because the survey indicated that women are more satisfied with their jobs.Instead of using the information from the survey as a means for profiling, companies should consider such information as an insight into the lives of employees. This insight will help them create better human resource programs that will increase the satisfaction of employees with their jobs.