Statistics for Management Assignment - (Doc)

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STATISTIC FORMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1...................................................................................................................................11.a Determination of earning of men and women in public sector with hypothesis testing.....11.b Determining the earning of men and women in private sector through use of hypothesistesting..........................................................................................................................................21.c using excel sheet for drawing the earnings of time chart of each group in Table A for theperiod 2009-2016........................................................................................................................31.d Identifying annual growth rate of earnings of each group...................................................5ACTIVITY 2...................................................................................................................................52.A.a Using Ogive for estimating median hourly earnings along with quartile.........................52.A.b Extracting mean and standard deviation on basis of hourly earnings of leisure staff.......8ACTIVITY 3...................................................................................................................................9a) Calculating economic order quantity.....................................................................................9b) How often order and cost.....................................................................................................10C) calculating inventory policy cost.......................................................................................10d) identifying current service level..........................................................................................10e) finding re- order level..........................................................................................................10ACTIVITY 4.................................................................................................................................114 A)Showing change in CPI, CPIH and RPI using the data of office of National Statisticsproduce line...............................................................................................................................114. B) Showing ogive chart of cumulative % of leisure staff employees and its impact overtheir earning on hourly basis.....................................................................................................13Interpretation..................................................................................................................................13CONCLUSION.............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONStatistics is study of observation in which the data is organised, interpreted, colle4cted,presented and analysed. The statistics is used for analysing the data for interpreting their resultwhich assist in making right decision for the management. This analysis is used for allocatingand summarising the data in mathematical form. This assignment will provide understandingabout the earnings of men and women employed in public and private sector. Also, It willinclude information about the number of leisure staff in the help of ogive in London area.ACTIVITY 11.a Determination of earning of men and women in public sector with hypothesis testingHypothesis testing in statistics is used in which analyst test the assumptions regardingthe population parameter.The two hypothesis consist of Null and alternative hypothesis.Null hypothesis(H0) will provide understanding that there is no difference in the earningof male and female working in public sector (Guo, Hu and Lei, 2017). Whereas alternativehypothesis(H1) will provide understanding that there are significant difference in the earnings ofmale and females.Interpretation :From the above table it can be interpreted that T test for identifying thedifference between the earnings of males and female shows that there are no significantdifference in their earnings in public sector. Also, the table shows that the P value is higher than1
0.05 which shows that the earning of the males and females are different. From the table it can beinterpreted that the average earning of males and female are 32276 and 26929 have also thedegree of freedom as shown above is 14.1.b Determining the earning of men and women in private sector through use of hypothesistestingIn this also, the null hypothesis will represent that there is no significant difference in theearning of men and women in private sector. Whereas , alternative hypothesis will show thatthere are significant differences in the earning of men and women in private sector.Interpretation :From the above calculation it can be interpreted that the the p valueshown above provide understanding that it is higher than 0.05 which means there is absence ofsignificant differences in earnings of male and females in private sector. Also, the averageearning of the men and women shown above has provided with 28062 and 20541. So, it can besaid that alternative hypothesis is not accepted as there is no difference in their earnings.2
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