(PDF) Statistics for Management

Added on - 12 Nov 2020

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STATISTICS FORMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1A. Determining that earnings of men in public sector is different to women with context tohypothesis testing........................................................................................................................1B. Determining that earnings of men in private sector is different to women with context tohypothesis testing........................................................................................................................2C. Drawing earnings time chart of every group..........................................................................3D. Identifying annual growth rate of all four groups..................................................................5ACTIVITY 2....................................................................................................................................62.A Survey of leisure centre staff in London.............................................................................62.B Using statistics comparing earnings in two regions...........................................................10ACTIVITY 3..................................................................................................................................11a. Extracting Economic order quantity......................................................................................11b. How often it must order with cost.........................................................................................11c. Extracting Inventory policy cost...........................................................................................11d. Specifying current service level............................................................................................12e. Re-order level........................................................................................................................12ACTIVITY 4..................................................................................................................................124.a Indicating change in CPI, CPIH and RFI from the year 2007-2017...................................124.b Producing a scatter diagram................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONStatistics is known as branch of mathematics which directly deal with organization.,collection, analysis, interpretation and gathering of numerical data. It is especially used fordrawing general conclusion relation to data set through sample of data. The present report woulddiscuss about business and economic information obtained through Office of National Statisticsrelated to men and women earnings in bothy public and private sector. In the same series, it willarticulate about survey of leisure centre staff of London area revealed through outcome forhourly earnings with reference to ogive, quartile, mean and standard deviation. Further, thiswould provide comparison from Manchester region with context to descriptive statistics. Thisreport will reflect economic order quantity of jenny Jones shop along with inventory policy costand reorder level for attaining desired service level. Lastly, it will present information related toCPI, CPIH and RPI over year 2007 to 2017 and ogive chart for cumulative % staff vs hourlyearnings.ACTIVITY 1A. Determining that earnings of men in public sector is different to women with context tohypothesis testingNull hypothesis: H0 : There is no difference in earnings of public sector of men and women.Alternative hypothesis: H1 : There is difference in earnings of public sector of men and women.1
Interpretation:The above table is reflecting results of t test undertaken for men andwomen who are employed in public sector. The average of earnings of men is 32276 and womenis 26929 with context to public sector with variance of 1449962 and 977868 respectively.Further, it has been clearly depicted that its p value is greater than 0.05 which shows that nullhypothesis isnot true (Koutras, Koutras and Yalcin, 2016). It has presence of statisticalsignificance that earnings of men and women in public sector are different with degree offreedom as 13.B. Determining that earnings of men in private sector is different to women with context tohypothesis testingNull hypothesis: H0 : There is no difference in earnings of private sector of men and women.Alternative hypothesis: H1 : There is difference in earnings of private sector of men andwomen.Interpretation:The above scenario is reflecting about earnings of men and women whoare working in private sector as there average is 28062.87 and 2051.25 respectively. In the same2
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