Create your spreadsheet and create the chart in Excel. With the chart selected in Excel, choose Edit | Copy from the menu bar. With your Word document open, choose Edit | Paste or Edit | Paste Special from the menu bar and the chart will be pasted into the document. The chart will still be linked to spreadhseet.   There are many ways to insert spreadsheet data from Excel into Word. Click on Help and search on the word "chart".

There is another technique...
Create your spreadsheet and create the chart in Excel. With the chart selected in Excel press the SHIFT key and then clcik Edit | Copy Picture.  The chart will be copied to the clipboard as an image - it will no longer be linked to the spreadsheet.