Question

Choose one statistical tool that you read about this week. i. e. (excel, megastat, and minitab) Consider a decision you need to make at work or at home. Explain how this tool will help you make that decision

Answer 1

A decision that needs to be made at home is maintaining monthly expenses and finding the amount spent on different items. So, Excel can be used in this case. We can enter all the products that are needed at home and how much each of these costs then multiplies the number of items with their costs to check how much we spend on a particular item. After that, we can create a bar plot item-wise total costs to compare the costs of items that are used at home. Also, we can create a similar type of bar plot of item-wise frequency plot.