Statistics Report

This statistics report analyzes business data from various sources, covering concepts like mean, mode, median, quartiles, and standard deviation. It also explores economic order quantity (EOQ) and reorder level calculations, and examines trends in earning data for men and women in public and private sectors.

ASSESSMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
a) Determine if earning of men is different from women in public sector..................................1
b) Determine if earning of men in private sector is different from women.................................2
c) Earning time chart for each group for period 2009-2016........................................................3
d) Determine annual growth rate in earning of four groups........................................................6
LO 2.................................................................................................................................................6
2) Calculate means and standards deviation................................................................................8
TASK 3..........................................................................................................................................10
1. Economic order quantity (EOQ)............................................................................................10
4. Current level to customer......................................................................................................11
5.................................................................................................................................................11
TASK 4..........................................................................................................................................11
........12

CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Statistics is a branch of applied mathematics which is related to the collecting, organizing
and interpreting of data. This data is represented in form of graphs. Statistics is also study of
probability of event occurring which is based on the known quantitative or collected data. In the
statics the by examine the large size of data by process it to found the patterns to predict the
result of huge amount of data. There are three types of averages used in the statistics which are
mean, median and mode. The economic data and information obtained from the different sources
is evaluated the nature and process of the business. The appropriate methods of statistics are used
to analyze the raw business data to full fill the requirement. The different methods of statistics
are used in business planning. The data calculated is communicated by using the relevant charts
and tabels.
TASK 1
a) Determine if earning of men is different from women in public sector
To determine relationship in earning of men and women in public sector, SPSS is been
used. In this Chi square test is applied. From SPSS the results obtained are described below :-
Case Processing Summary
Cases
Valid Missing Total
N Perce
nt
N Perce
nt
N Perce
nt
meninpublic *
womeninpublic 8 100.0
% 0 0.0% 8 100.0
%
Chi-Square Tests
Value df Asymp. Sig.
(2-sided)
Pearson Chi-
Square
56.00
0a 49 .229
Likelihood
Ratio
33.27
1 49 .958
N of Valid
Cases 8
1

a. 64 cells (100.0%) have expected count
less than 5. The minimum expected count
is .13.
By interpreting the above table value significant value of P obtained is .229 which is
higher than P =0.05. Hence, H1 that is alternative hypothesis is accepted. It can be stated that
there is significant relationship between men and women in earning in public sector.
b) Determine if earning of men in private sector is different from women
Case Processing Summary
Cases
Valid Missing Total
N Perce
nt
N Perce
nt
N Perce
nt
meninprivate *
womeninprivat
e
8 100.0
% 0 0.0% 8 100.0
%
Chi-Square Tests
Value df Asymp. Sig.
(2-sided)
Pearson Chi-
Square
56.00
0a 49 .229
Likelihood
Ratio
33.27
1 49 .958
Linear-by-
Linear
Association
5.715 1 .017
N of Valid
Cases 8
a. 64 cells (100.0%) have expected count
less than 5. The minimum expected count
is .13.
2

Here, by analysing above table it is analysed that significant value obtained is P = .229
which is higher than P= 0.05. Thus, alternative hypothesis is accepted. It can be evaluated that
there is significant relationship between earning of men and women in private sector.
So, from both table it is interpreted that men and women earning in private and public
sector is having relationship with one another. So, if there is rise in annual income of women
than men incomes also rises with same proportion. Similarly, if there is decline in annual income
of women it also decreases men income.
c) Earning time chart for each group for period 2009-2016
Time
Men in
public
2009 30368
2010 31264
2011 31380
2012 31816
2013 32541
2014 32878
2015 33685
2016 34011
3

Time
Men in
private
2009 27632
2010 27000
2011 27233
2012 27705
2013 28201
2014 28442
2015 28881
2016 29679
4

Time
Women
in
public
2009 25224
2010 26113
2011 26470
2012 26663
2013 27338
2014 27705
2015 27900
2016 28053
5

Time
Women
in
private
2009 19551
2010 19532
2011 19565
2012 20313
2013 20698
2014 21017
2015 21403
2016 22251
6

d) Determine annual growth rate in earning of four groups
The annual earnings growth rate of four groups are as follows :-
Men in public – 4.55%
Men in private – 2.55%
Women in public – 3.53%
Women in private – 3.37%
Thus, it can be evaluated that annual growth rate of men and women is higher in public
sector with comparison with private one. But in private women is having more annual growth
rate as compared to men. Here, there is decline in salary every year.
TASK 2
1)
hourly earnings
no. of leisure centre
staff CM CM%
0-10 4 4 8
10---20 23 27 54
20---30 13 40 80
30---40 7 47 94
40---50 3 50 100
50
CM
less than 10 4
7

less than 20 27
less than 30 40
less than 40 47
less than 50 50
Interpretation:
By observing the hourly earnings and number of leisure staff, median hourly earning is
calculated and its percentage is also calculated. Graph is made between hourly earnings and
median.
hourly earnings CM CM%
0-10 4 8
10---20 27 54
20---30 40 80
30---40 47 94
40---50 50 100
8

N= 50
1st quartile 12.75
2nd quartile 25.5
3rd quartile 38.25
Interpretation:
Quartile refer to a type of quartile in which ther are three quarties.
Quartle 1st : middle number between smallest number abnd median.
Quartile 2nd : median
Quartile 3rd : middle value between median and highest value.
On the concept if quartile and according to question, 1st, 2nd, 3rd quartile are calculated by
caluculated median value accordingly on the basis of above stated. 1st quartile is results into
12.75. 2nd quartile is results into 25.5. 3rd quartile is results into 38.25.
2) Calculate means and standards deviation
Hourly
earnings
No of staff Mean SD
9

below 10 4 4 4
10 to 20 23 23 23
20 to 30 13 13 13
30 to 40 7 7 7
40 to 50 3 3 3
50 €10 €8.246211
Median= L+Cf-n/f*I
= 20+ (40+5)/50*10
=27
Standard deviation-
Class interval of
hourly earnings
No. of
leisure
centre
staff
(Frequenc
y) 1
Middle
value (X) 2
FX
3: (1*2)
DX= X-A
4
FDX
5: 1*4
FDX^2
5^2
0 to 10 4 5 20 -20 -80 6400
10 to 20 23 15 345 -10 -230 52900
20 to 30 13 25 325 0 0 0
30 to 40 7 35 245 10 70 4900
40 to 50 3 45 135 20 60 3600
Total 50 125 1070 0 -180 32400
√ƸFdx^2/N - (ƸFdx/ N)^2
√32400/ 50 - (-180/50)^2
=10.15.
Interpretation:
Standard deviation refers to a quantity which delas with members of group that are differ
from mean value of group. Standard deviation is calcuated in four steps:
10

First in this question, mean is calucated on the basis of hourly earning an dnumber of
staff. Then with the help of average mean value, standard deviation is claculated. Median value
is calculated as 27. standard deviation is calculated as 10.15.
3)
By comparing tables it can be identified that average earning in London area is only 10
whereas in Manchester area it is €16.50. This means that the average earning is higher in
Manchester area as compared to London one. Whereas standards deviation is
Parameters Median Interquartile
range
Mean Standard
deviation
London 13 3 13 12.5
Manchester 14 7.5 16.5 7
Interpretation:
On the basis of stanndard deviation calculation, parmeters between London and
Manchester is calculated and compared. Median is compared where london has 13 and
manchester is 14. interquartile range is compared where london has 3 and manchester is 7.5.
Mean is compared where london has 13 and manchester is 16.5. standard deviation is compared
where london has 12.5 and manchester is 7.
TASK 3
1. Economic order quantity (EOQ)
Particulars Figures
Demand per year 30*50
1500
Ordering cost of per order 5
Inventory holding cost 2
Economic order quantity √2 * 1500 * 5/ 2
7500
11

86.60
Interpretation:
Economic order quantity refers to optimum quantity of goods that are pirchased at a
sinlge time to overcome the cost of purchasing induvidual products. It invoves the cist regarding
storage, order, and shortage costs. Formulae for finding economic order quantity is
Q = √2DS/H
Here,
Q = EOQ
D = demand
S = order cost
H = Holding cost
In this question, demand per year is calculated which is 1500. order cost is 5 and hloding
cost is 2. then economic order quantity is calculated on the basis of above formulae which results
into 86.60 value.
2.
Particulars Amount
Order tee shirts per year Yearly demand / EOQ
Yearly demand 1500
Economic order quantity 86.6
Order annual basis 17.32
Ordering cost Number of orders per year * Cost per order
5 * 17.32
86.60
Interpretation:
Ordering cost refers to expenses that are created and processed to supplier. This cost is inolved in
economic order quantity. Ordering cost calucaltes cost of like to preapre a purchase requiastion,
etc.
12

Formulae for calculating ordering cost is as foolows as
Ordering cost = no of orders per year * cost per oder.
In this question, EOQ is 86.6 and order annual basis is 17.32. order cost per order is 5. so, total
overall ordering cost is 17.32*5 and results in 86.60
3.
Particulars Formula and amount
Safety stock
Z score (95%) 1.65
Average demand on weekly basis 30
Standard deviation 15
Safety stock Z* Standard deviation * Demand
742.5
Interpretation:
Safety score refers to additional quantity which is stock fro future purpose to reduce the risk for
being finished. It act as like a buffer. This value helps warehouse people to maintain stock in
limited quantity. This is calculated on the basis of multiplication of avaerage daily usage in terms
of maximum lead time and demand and average usgae in terms of average lead time.
This calucation is calcuated according to quastion data and resultsin 742.5 value.
4. Current level to customer
95%
5.
Particular Formula and Amount
Reorder level Lead time demand + Safety stock
Lead time demand 150
150 + 742.5 892.5
Interpretation
Reorder level refers to inventory level which triggers an action to replenish apecific stock. It is a
minimum value of number of items in stock to minimize the risk of stock failure. It is a point
13

where items must be reorderd to get constsant supply of materials. This is calucauted on basis of
safety stock and lead tim demand.
Its formulae is addition of lead time deamd and safety stock. Lead time demand is 150. safety
stock value is calculated aboove is 742.5. hence, 742.5+150 = 892.5. this is reorder value.
TASK 4
1.
INDEX
Year RPI CPI CPIH
2007 4.3 2.3 2.4
2008 4 3.6 3.5
2009 -0.5 2.2 2
2010 4.6 3.3 2.5
2011 5.2 4.5 3.8
2012 3.2 2.8 2.6
2013 3 2.6 2.3
2014 2.4 1.5 1.5
2015 1 0 0.4
2016 1.8 0.7 1
2017 3.6 2.7 2.6
14

Interpretation:
Rating percentage index refers to quantity which is used to highlight the rank of sports
team on the basis of winning and loosing games. But it lacks theoretical justification.
Consumer price index refers to changes in level of proceson the basis of goods and
services. It is an estimated value.
Data from office of national stastics vharts, changes are observbved and noted in table
above. Then a bar chart is made accordingly.
CONCLUSION
This report is eventuating the different kind of the business data
which is received form the different sources. The different methods of
statistics has been learned. The process to calculate the data like mean,
mode and median has been learned through the report. In a business how
the data which is received from the different sources is processed to
generate or predict the required information for the business. Quartiles are
calcultaed to find median value between smallest and median value.
15