Since the decisions that managers make are based on data presented to them, the value of Excel is undoubted.. 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 are 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 hypothesis. 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.
The 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 lev ...