Specialized And Statistical Functions Business & Marketing Essay (Essay Sample)

Specialized and Statistical Functions
Student’s Name
Institution
Specialized and Statistical Functions
Introduction
Excel is quite known with the providence of a range of statistical functions which are ideal in the performance of calculations. These calculations range from the mean, median, mode to more sophisticated statistical distributions as well as probability tests. The primary purpose of this paper will, therefore, be based on discussing the z-test, which appears to be one of the probability tests. Based on its definition, a z-test refers to a statistical test which is applicable in the determination on whether two sets of population means tend to be different whenever the variances are identified, while the sample size tends to be extensive (Chen, 2019).
The Z-Test
In this context, the test statistic tends to inhibit a normal distribution, whereas the standard deviation is also recognized to enhance the actual performance of a z-test (Chen, 2019). The z-test is mostly applicable in samples which tend to be higher than thirty. The reasons for this is because large samples tend to be normally distributed (Massey & Millert, 2006). The conducting of the z-test requires an individual to state the null and alternative hypothesis, as well as the alpha and the z-score. After having stated them, the test static is then calculated; this is then followed by obtaining the results and stating the conclusion (Chen, 2019).