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Excel and word - Assignment Example

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Excel and word Data analysis is significant to managerial decisions as it offers bases for informed decisions. This paper applies excel spreadsheet to analyze hypothetical data and offers discusses advantages and disadvantages of spreadsheets in data analysis…
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Excel and word
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Download file to see previous pages 4: Frequency distribution for labour hours Bin Frequency 0-1000 0 1001-1100 5 1101-1200 1 1201-1300 2 1301-1400 4 1401-1500 3 1501-1600 6 1601-1700 2 1701-1800 1 1801-1900 0 More 0 Graph 1: Histogram for labour hours The frequency distribution table and the histogram confirms dispersion of observed values on the variables and the slight skewedness. Section B Graphical representation of variables is one of the strategies for identifying their correlation. The following graph shows consistency in changes among all the variables across the considered months. Graph 2: Comparative graph of the variables across the considered months The observed consistency in the variables’ trend suggests possible association among them. A more clear causal effect relationship can be observed from correletion coefficientthat is shown in the following table. Table 5: Correletion coefficients   Overhead costs Direct labour hours Machine hours No. Of set ups Overhead costs 1 Direct labour hours 0.703705 1 Machine hours 0.74701 0.680397 1 No. Of set ups 0.555748 0.321948 0.333965 1 The table identifies the strongest association between overhead costs and direct labor hours and machine hours because of the highest coefficient, 0.74701, as compared to coefficients for the other overhead cost drivers. Analysis of variance however offers the most accurate causal effects relationship and the tables bellow shows the regression analysis results. Table 6: ANOVA table for multiple regression analysis ANOVA   df SS MS F Significance F Regression 3 5284.197 1761.399 16.63454 1.17E-05 Residual 20 2117.761 105.8881 Total 23 7401.958       The low significance value, 1.17E-05 that is lower than 0.05, means that the null hypothesis is rejected to the effect that the cost drivers have significant...
Advantages and disadvantages of using a spreadsheet package to compile statistical calculations
Operating spreadsheets in calculations has both advantages and disadvantages with which users interact. One of the associated advantages is the ease with which an individual can learn about spreadsheet features and apply the features in analysis. Readily available functions for calculations facilitates these as users can easily identify the functions’ locations and use them at the click of a tab. Spreadsheet functions are also organized into categories with distinct features and this allows users to predict, with ease, location of a function for use. The overall display of input values also offer references to facilitate learning of spreadsheet operations. Another identified advantage with spreadsheets is the ability to develop them within a short period and with significant ease. Users’ ability to design and develop spreadsheet also means that the data analysis tools are cheap. Spreadsheets are also flexible to handle both simple and complex data analysis and this makes them applicable to diversified users and professions. Programmed features of spreadsheets with “built-in capabilities, functions, and tools” also offer an advantage of spreadsheet and empower users in data analysis (Lau and Gugden 2011, p. 247). Most spreadsheets are also readily available with operation systems and from vendors and the accessibility promote training on the spreadsheet applications and familiarity with different spreadsheet features (Tennent and Friend 2011, n.p.). Spreadsheets also allows for multiple representation of data through “numerical, graphical, and algebraic representations” (Stacey, Chick and Kendal 2004, p. 107). ...Download file to see next pagesRead More
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