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In this tutorial video by Trump Excel, the instructor explains how to insert and use radio buttons (option buttons) in Excel. To start, users need to enable the Developer tab by right-clicking on the ribbon, selecting "Customize the Ribbon," and checking the Developer option. After confirming, the Developer tab becomes visible. To insert a radio button, users go to this tab, select the Insert option within the Controls group, and choose the Option Button. Clicking on the worksheet will place the radio button, which appears with a select circle and a default label "Option Button 1." The tutorial continues from this point to demonstrate further functionalities.