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Discussing the Use of Statistical Tools and Surveys in Business

Answer the following questions separately and completely.

Part 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.

Part 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?

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Solution Preview

Part 1:Excel is a very powerful tool - and I use it every single day in my work place to interpret data. I could use it to calculate means, frequencies, standard deviations - all of these are necessary to conduct statistical testing. I could conduct a regression analysis which will help my firm build forecasting models. There are also may more statistical functions that could be conducted using Excel - if a person does not have access to a more powerful program ...

Solution Summary

The solution links the ideas of using Excel in a business setting and the ethical issues in creating employee profiles to ideas of the importance of sound business processes. 340 words.