Very easily done and easily possible, using a USB OTG ("on the go") cable adapter, with a micro USB male connector on one end and a full-size female connector on the other.

Note that for some peripherals, such as external DVD drives and external hard drives, the power from the tablet alone may not be enough to power the peripheral.  But Dell (as well as third parties) also sell power+data USB OTG cable adapters (some of which also incorporate USB hubs) which have multiple ports, allowing the tablet to be plugged into external power while simultaneously allowing a peripheral to be connected to the tablet.

And, some samples for you:

Sample USB OTG cable adapter:  http://www.amazon.com/IVSO-Micro-Cable-venue-Black/dp/B00H8R7E4I

Dell power+data USB cable adapter (also known as the "Dell dongle"):  http://accessories.us.dell.com/sna/productdetail.aspx?c=us&l=en&s=dhs&cs=19

And there even are little gizmo adapters that you can insert into a device's full-sized USB male plug, adding USB OTG capability to it and converting it into a micro USB plug:  http://www.amazon.com/Ultra-Micro-Adapter-Connector-Tablet/dp/B015GZOHKW/ref=pd_sim_147_1?ie=UTF8&dpID=41OvcscfhVL&dpSrc=sims&preST=_AC_UL160_SR160%2C160_&refRID=15K3H7JR0ZQMS9QCATBY

THANKS MILKERMAN

How do you connect anything to your Micro-USB connector? Such as a external DVD Drive, Or is this possible?

I use both the OTG cable for things like flash drives and a Plugable Docking station to provide the tablet with some form of PC/laptop usability. The dock not only provides USB connectivity for multiple devices such as k/b,mouse and external drives, it has built in HD graphics capabilities to connect an additional monitor/projector or an array of monitors, with onboard sound and LAN too - all neatly achieved through that tiny USB port. Worth it if you wish to get a whole lot more out of your tablet.

I have an MHL pig tail too but it doesn't seem to work. this would enable me to connect a HDMI lead directly to the tablet. It's a slight let down but not a car crash.