Statistics for Management Assignment (pdf)

Added on - 21 Feb 2021

  • 19

    Pages

  • 2579

    Words

  • 20

    Views

  • 0

    Downloads

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 19 pages
STATISTICS FORMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3LO 1 Evaluation of economic and business data from the set of published sourcecs.....................3P1 Evaluation of the earning of men and women employees of public and private sectororganization.................................................................................................................................3P2 Evaluation in the earning of men and women in different accounting years.........................5..........................................................................................................................................................6LO 2 Business data analysis by different statistical tools and techniques.......................................7P3 Evaluation of business data by mean, quartile, median and standard deviation....................7LO 3 Usage of statistical method in business planning.................................................................11P4 evaluation of quality, capacity management and inventory in business plan......................11LO 4 Communicate findings by the different charts and graphs...................................................13P5 Communicate findings in the different variable via tables or charts...................................13CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONStatistic of management refers to the statistical data which helps the manager to controlthe company performance. The report highlights the difference in the earning of private andpublic sector employees by the different graphs and methods. It explains the different statisticaltools such as mean, median standard deviation and interquartile range. It also explains the usageof economic order quantity in the estimation of total number of deliveries in a year. The reportalso highlights the relation between the total number of bedrooms and their prices in differentareas.LO 1 Evaluation of economic and business data from the set of publishedsourcecsP1 Evaluation of the earning of men and women employees of public and private sectororganizationA) Comparison of public sector organizationNull Hypothesis H0:There is no significance difference in the earning of public sectoremployees of both men and women.Alternative hypothesis H1:There is significance difference in the earning or public sectoremployees of both men and women.Interpretation:The above data present the earning of public sector employees from theyear 2009 to 2016. It can be interpreted from the above table that the P value of the series is3
more than 0.05 which indicate that the null hypothesis is true and there is no significancedifference in the earning of men and women of public sector. P value helps to identify theprobability that null hypothesis is true or not. If the p value is less than .05 which indicate thatalternative hypothesis is true and if the p value is greater than .05 than null hypothesis is true.There is no significance difference in the earning because the public sector organization providesvarious benefits to moth men and women employees and also pay them according to theperformance rather than the gender biases.B) Comparison in the earning of private sector employeesNull Hypothesis H0:There is no significance difference in the earning of men and women ofprivate sector.Alternative Hypothesis H1:There is significance difference in the earning of men and women ofprivate sector.Interpretation:It can be interpreted that the p value of the series or the comparison inthe earning of private sector employees is 2.16 which is less than .05 value. It clearly indicatesthat the null hypothesis is true and there is no significance difference in the earning of men andwomen of private sector organization or company. In private sector employees are recruited onthe basis of their skills, knowledge and experience and also pay according to it rather than to payon the gender basis. Private sector provide various opportunities such as appraisal, incentives toequalize their income. Also, the different laws and regulation such as fair wages act, employment4
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document