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Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector

   

Added on  2020-10-22

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STATISTICS FORMANAGEMENT
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_1

Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1(a) Determining whether earnings of men are different from women in public sector...............1(b) Determining whether earnings of men are different from women in private sector.............2(c) Earnings-Time Chart Plot for each Sector:............................................................................3(d) Annual Growth Rate and its computation:............................................................................5ACTIVITY 2 ...................................................................................................................................8(i) Calculating Median and Quartiles through Ogive..................................................................9(ii) Ascertaining the measures of Central Tendency and Dispersion........................................11(c) Comparing the statistical measures for two branches of Leisure Centre.............................12ACTIVITY 3 .................................................................................................................................13(a) Economic order Quantity ....................................................................................................13(b) Number of Orders to be placed...........................................................................................14(d) Current Service Level to Customers....................................................................................14(e) Re-order levels that fulfil desired service levels..................................................................14ACTIVITY 4 .................................................................................................................................15(a) Line and/or Bar Charts for data indicating changes in CPI, CPIH and RPI from 2007 to2017...........................................................................................................................................15(b)Producing Ogive for Cumulative Percentage of Staff versus Hourly Earnings ..................17CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_2

INTRODUCTIONStatistics help management in undertaking projects by making accurate decisions in termsof production and quality based on the acquired knowledge about customer tastes andpreferences. This theoretical framework includes investigation, interpretation, protection anddemonstration of collected data (Cawthorn and Mariani, 2017). It helps in measuring theperformance of management as well as stimulate innovation by providing a foundation forresearch and development activities in the organisation. This report entails a detailed evaluationof statistical tools and techniques in relation to Hypothesis testing, central measures of tendency,dispersion and variability. Furthermore, the report includes interpretation of data collected,analysed and presented under each task.ACTIVITY 1The concept of hypothesis testing relates to the affirmation of assumptions in regards to acertain set of data set derived from a population indicating whether such data hold true or not.For this purpose, two opposing hypotheses are made viz. Null hypothesis (H0) and AlternativeHypothesis (H1). The Null Hypothesis can be defined as an asserting statement which says thatthere is no difference between sample statistic and population parameters. On the other hand,Alternative Hypothesis one which opposes this assertion (General and Welfare, 2013). Whileconducting a statistical test, null hypothesis is taken into account or is tested. If this hypothesisdoes not hold true, it is rejected whereas alternative hypothesis is accepted and vice versa.Hypothesis testing helps in deriving important conclusions or inferences through themeasurement of deviations in sample data from population parameters. Thus, it is one of themost widely accepted forms of statistical methods undertaken by businesses so as to enable aninformed decision-making on their part. In the context of scenario mentioned in the case study, following analysis of differentsituations have been imparted using hypothesis testing:Public Sector:(a) Determining whether earnings of men are different from women in public sectorUnder this scenario, the following hypothesis are taken under investigation:H0: Earnings of men is not significantly different from that of women employed in Public Sector.H1: Earnings of men is significantly different from that of women employed in Public Sector. 1
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_3

In order to determine whether the assertions hold true or not, Null Hypotheses (H0) has beentested and results have been analysed as under:Total Gap (%) from 2009 to 2016:10.62% (Adding the figures in fifth column)Given above is a tabular representation of sample data collected showcasing the meanearnings in '£' of full time employees' annual pay by sex in United Kingdom for the period 2009to 2016. This table also indicates the difference between the mean earnings between both menand women in each year spanning for a period of 8 years (2009 to 2016). In addition to this, therehas been an analysis given regarding the changes in gender pay-gap. On a closer look, one can ascertain that the lowest difference between male and femaleamounts to 4910 in 2011. Also, 2013 is the year when wages between the two genders did nothave a significant change in their difference. This gap further reduced to £5,173 in 2014.However in 2015, highest gap between the pays of both genders was recorded with more than11% increase. Also, the total gap from 2009 to 2016 is 10.62% which is quite high, thus,rejecting the Null Hypotheses (H0) and accepting Alternative Hypotheses (H1) (Groebner andet.al., 2013). From the above figure, one can say that the earnings of men are significantlydifferent from that of women.(b) Determining whether earnings of men are different from women in private sectorUnder this scenario, the following hypothesis are taken under investigation:H0: Earnings of men is not significantly different from that of women employed in PrivateSector.H1: Earnings of men is significantly different from that of women employed in Private Sector. In order to determine whether the assertions hold true or not, Null Hypotheses has been testedand results have been analysed as under:2
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_4

Total Gap (%) from 2009 to 2016:-8% (Adding the figures in fifth column)Given above is a tabular representation of sample data collected showcasing the meanearnings in '£' of full time employees' annual pay by sex in United Kingdom for the period 2009to 2016. This table also indicates the difference between the mean earnings between both menand women in each year spanning for a period of 8 years (2009 to 2016) and employed in PrivateSector. In addition to this, there has been an analysis given regarding the changes in gender pay-gap. On a closer look, one can ascertain that the lowest difference between male and female isrecorded in 2014 when the gap was at £7,425. Also, 2015 is the year when wages between thetwo genders did not have a significant change in their difference. This gap further reduced to£7,428 in 2016. However in 2010, highest reduction in gap between the pays of both genderswas recorded with more than 7.5% decrease. Also, the total gap from 2009 to 2016 is an adverse8% which indicates a positive image as their has been an overall reduction in the pay-gap overthe years. This is also evidenced in the 'Gap' column of the table when, initially, the pay gapamounted to £8,081 whereas it had decreased to £7,428 in 2016. Thus, rejecting the AlternativeHypotheses (H1) and accepting Null Hypotheses (H1). From the above figure, one can say thatthe earnings of men are not significantly different from that of women.(c) Earnings-Time Chart Plot for each Sector:Public Sector:Annual Mean Earnings for Men from 2009 to 2016:3
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_5

Annual Mean Earnings for Women from 2009 to 2016:Private Sector: Annual Mean Earnings for Men from 2009 to 2016:4
Statistics for MANAGEMENT INTRODUCTION 1 STATISTICS FOR MANAGEMENT INTRODUCTION 2 ACTIVITY 1 1 (a) Determining whether earnings of men are different from women in private sector_6

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