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MS Excel can be used to create business reports, especially, statistical data analysis. In this regard, the statistical analysis report focuses on the amount of money spent on CDs last year by 30 boys in each of the two age groups. The age groups are defined as 13 and 18. This statistical information is important to the CDs music sellers who intend to capture more customers, especially, the teenagers who are fond of listening to CD music.
Data on the teenagers’ spending patterns on CDs is necessary, because they are important elements driving sales and marketing. Businesses are interested in attracting teenagers who can buy more of the CD products in order to increase sales revenue earnings. It is common knowledge that companies incur a lot of money in the production of CDs, and the high cost can be compensated when more revenues are released through high productivity and sales (Lind, Marchal & Wathen, 2011). This implies that several companies have to make good use of the teenagers by promoting them the sale of the CD music products. The objective of this analysis is to ascertain whether there is a relationship between the boys’ age and the spending pattern on CDs purchases.
Capabilities of MS Excel
In the report (attached), MS Excel has been excellently used in calculating mean, mode, median, and the standard deviation of the data. Moreover, the MS Excel formulae made it possible to calculate the correlation and t-statistics, which are important in hypothesis testing as well as decision making (Yoder & Symons, 2010). The MS Excel functions facilitated the generation of the required sample size and sample standard deviation. Summing up, it facilitated the interpretation of the results of the report findings by rejecting the null hypothesis (Ho) and states that there is no relationship between the boys’ age and the cost of CDs sold. On the other hand, accepting the alternative hypothesis (H1), it states that there is a relationship between the boys’ age and the cost of CD music sold. To this end, the value of the t-statistic/test statistic can be regarded as 95% confidence level, because it is found within two standard deviation scores of 0.025.