4. (LO 4.6) Match the business analytics technique in Excel’s Data Analysis ToolPak to its use.

Business Analytics Technique Use 1. Correlation

a. To understand the probability of a statistical difference in averages between two independent samples or between a paired sample through time 2. Regression

b. To understand if and the extent to which variables are related to each other 3. Descriptive statistics

c. To understand the basic statistics, including the average, standard deviation, and minimums and maximums of a data set 4. Histogram

d. To understand the frequency of the data using a display of rectangles whose areas are proportional to the underlying frequency of the data 5. t-test

e. To understand the relationship between specific inputs and outputs