1. Describe ways in which the use of MS Excel as a tool for interpreting data can be used by a manager of an organization.
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 employees?
1. MS Excel is a highly efficient statistical and mathematical tool that can be used in interpreting data both in academic and commercial environments. It can be used extensively in accounting applications by managers wherein it can help prepare balance sheets, tabulation, calculations like addition, subtraction, multiplication of prices with number of purchases, comparisons and sorting. In statistical applications, and range can be used with the Descriptive Statistics facility. Besides, it is also used in hypothesis testing which are so important in managerial decision making. To test the claims on advertising, mean sales, variances or risk factors in investments and the like, certain Addins like Megastat, XLStat, etc can be installed which can perform the five step-hypothesis testing procedure easily. Normal distribution, Poisson Distribution, Binomial Distribution, Uniform Distribution, Weibull Distribution, and other probability ...
This solution discusses data interpretation and legal/ethical issues in an organization.