Question

Please reply to a discussion post below from a classmate Please provide reference(s) if any. Thank you in advance!

Hello class,

Out of the software and hardware mentioned above, I will be mainly using Microsoft's Excel. Although the other technologies mentioned might be useful/helpful, I feel like Excel can offer more than they do. The disadvantage about Excel is learning how to use it in its entirety. Excel is a vast program with many features that require your time and dedication to actually fully learn. The TI 83/84 sounds really interesting to learn how to maneuver and use. It would be really useful in situations where software isn't available, but if forgotten somewhere you will need to struggle to find it. Another disadvantage of the TI 83/84 is that if it breaks, you will have to go through the trouble of getting it fixed, or buying a new one. Computers can break as well, but you'd still own the software and could easily install it in another computer, or reinstall it in your fixed computer if need be. The advantage of StatCrunch is that it is integrated with MyStatLab, making accessible to us wherever we have a computer and internet connection. A disadvantage about using StatCrunch is that once we are done with class, we would need to pay for use after we are finished with this course. Like mentioned earlier, I will be mainly using Excel, however, I will take a look into learning how to use the other two technologies.

Answer 1

Here, the student is referring to calculating tools namely Microsoft excel, T1 83/84 device, mystatlab and statcrunch etc.

All these are tools which can be used as financial and statistical calculators. Of them Msexcel is an offline based computer program which offers a vast veriety of functions which can help any student as well as professionals in calculating a number of financial and statistical figures.

It can calculate simple summations to complex forecasting techniques through its functions. It can also facilitate in creating automated calculation worksheets wherein the user has to fill in inputs and the outputs will be generated automatically regardless of the size of the worksheet.

Macros are also a big help in providing automated calculations.

Excel being one of the most old calculating tools is still the most used tool in the world. Many database management systems are based on excel and other microsoft technologies.

TI 83/84 are handheld devices which enable financial and statistical calculations. These devices have limited key on its keyboard making it a little tough for the user to get the desired results easily. The best thing about these devices is that these devices are handheld and can be shifted very easily.

Other tools discussed above are statcrunch and mystatlab, these are online based calculation tools wherein the user can access his calculations from anywhere through any medium by connecting to internet. The only problem with these tools are that these tools are not free and the user has to pay subscription to use them.

Google sheets is also a good example of the same which is also free. Google sheets can be used by the users using cloud and most of the functions used in google sheets are similar to that of excel.

Hence I prefer google sheets for calculations needed and for the ease of access.