Statistical Analysis and Interpretation Report

The report provides an in-depth analysis of different data sets using statistical methods. It includes line charts, Ogive charts, and scatter charts to visualize the data. The report concludes that statistics is essential for managing business aspects and financial requirements. It also provides valuable information about the company's growth and future sustainability.

STATISTICS FOR
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
A) Analysing the changes in gross annual earnings of male and female since 2010 .................3
For Male......................................................................................................................................3
For female...................................................................................................................................4
ii) Differences in earnings of male and female ..........................................................................5
B): Office of national statistics...................................................................................................7
i): Gap among finance and educations gross earnings................................................................7
ii): Analysing that social and health care staff are better paid then administrative staff ...........7
TASK 2 ...........................................................................................................................................7
A): Using Ogive charts in calculating median of earnings.........................................................7
ii) Calculation of standard deviation and mean.........................................................................10
Table for calculating mean........................................................................................................10
TASK 3..........................................................................................................................................13
1): Cost efficient delivery situations.........................................................................................13
A): Total number of deliveries that are made in the current year.............................................13
C): Calculation of EOQ.............................................................................................................13
D) Total variable cost................................................................................................................14
TASK 4..........................................................................................................................................14
A): Line chart indicating male and female earnings for the period..........................................14
(b): Represent data by using ogive chart...................................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................19

INTRODUCTION
Statistics is the mathematical and economical process that deals with the collection,
evaluation and communication of the financial information of the company through use of
statistical methods such as measures of central tendencies(mean, median and mode) and
measures of dispersion(standard deviation and coefficient correlation). With the use of these
methods it becomes easy for the company to analyse and compare the performance of the
companies and enables the managers in gaining outcomes that are more valuable for the
company. The statistical methods also assists the companies in attaining the organisational goals
and objectives in an more effective manner.( Linoff, and Berry, 2011. )
This project report focuses on proper analysis of various tasks and different types of
charts and graphs are presented using the data provided. This report further utilises many
techniques for the efficient analysis are elaborated under this report.
TASK 1
A) Analysing the changes in gross annual earnings of male and female since 2010
Gross annual earnings: This is the total earnings that employee has earned over a year
before deductions of taxation. The gross annual earnings is calculated by deducting various costs
from the CTC of the employee such as provident fund of both employee and employers and other
necessary deductions. The annual earnings of employees in the mentioned two sectors is
analysed by performing a proper hypotheses on the aggregate income of female and male during
the period. ( Miller, 2013.)
For Male
Year Public Private Changes
2010 31264 27000 4264
2011 31380 27233 4147
2012 31816 27705 4111
2013 32541 28201 4340
2014 32878 28442 4436
2015 33685 28881 4804
2016 34011 29679 4332
Total 227575 197141 30434

1 2 3 4 5 6 7
0
5000
10000
15000
20000
25000
30000
35000
40000
31264 31380 31816 32541 32878 33685 34011
27000 27233 27705 28201 28442 28881 29679
4264 4147 4111 4340 4436 4804 4332
column chart
Male total earning
Public
Private
Changes
According to the above information which is collected from the public and private sector
organization, it identified the total earnings of males during the period. With the analysis of the
of the above table and chart it is observed that the annual earnings are improving on the yearly
basis. This has also been seen that earnings from the public sector is more better in comparision
with the private sector.( Siegel, and et. al., 2014)
For female
Year Public Private Changes
2010 26113 19532 6581
2011 26470 19565 6905
2012 26636 20313 6323
2013 27338 20698 6640
2014 27705 21017 6688
2015 27900 21403 6497
2016 28053 22251 5802
Total 190215 144779 45436

1 2 3 4 5 6 7
0
5000
10000
15000
20000
25000
30000 26113 26470 26636 27338 27705 27900 28053
19532 19565 20313 20698 21017 21403 22251
6581 6905 6323 6640 6688 6497 5802
Column chart
Earning of Female
Public
Private
Changes
According to the data that is collected from the from the private and public sectors it has
been evaluated that earnings of the female employees has increased more than male employees
in both the sectors. As per the data of 2010, the gross earnings are maximum because of the
higher male employee income, while in 2015 earnings are at maximum because of contribution
of high female earnings. As per the current data it is tough to analyze which gender group is
generating more income.( Stevens, 2012 )
ii) Differences in earnings of male and female
Earnings of females and males as collected from public sectors
Year male female Difference Gap
2010 31264 26113 57377
2011 31380 26470 57850
2012 31816 26636 58452
2013 32541 27338 59879
2014 32878 27705 60583
2015 33685 27900 61585
2016 34011 28053 62064

1 2 3 4 5 6 7
55000
56000
57000
58000
59000
60000
61000
62000
63000
57377 57850 58452
59879 60583
61585 62064
Line chart
Earning of both male and female in public sector
Difference Gap
Earning of male and female from private sector:
Year male female
Difference
Gap
2010 27000 19532 46532
2011 27233 19565 46798
2012 27705 20313 48018
2013 28201 20698 48899
2014 28442 21017 49459
2015 28881 21403 50284
2016 29679 22251 51930

1 2 3 4 5 6 7
42000
44000
46000
48000
50000
52000
54000
46532 46798
48018 48899 49459 50284
51930
Line chart
Earning gather from private sector for male and female
Difference Gap
As per the above information, it is interpreted that sum of total earnings that is collected from the
private sector is much more balanced and consistent as compared to the public sectors. After
making an analysis of the data from the above line charts it is interpreted that the earnings are
compounding at a much constant rate. In the charts that represents the female employees , the
graphs are beginning with a small rate and after they are increasing in an appropriate manner. By
analysing data of 2015 and 2016 is has been observed that the growth in the earnings of male
employees are quite low as compared to the earnings of females. ( Taylor, and et. Al 2015)
B): Office of national statistics
i): Gap among finance and educations gross earnings
According to the policies that are proposed in accordance with the changes to student
finance arrangement fees , loans and grant with the total inflation of 2.8%. Increasing the
amount of grants will will act as specific contribution in cost of living. This acts as guiding
principle to in formulating government reforms for providing funding to students for higher
education. The caps are created on maximum tuition fees for courses and full time distance
learning courses are initiated after getting providers for higher education to gain teaching
excellence frameworks.
ii): Analysing that social and health care staff are better paid then administrative staff
Most of the staff of NHS are looking to gain a pay raise of about 9% and 29% during the
upcoming three years after the health minister disposed the seven year health plan. Over 1
million people have forced to implement a rise in NHS for at least 6.5%, if the deal is backed in

ballot to be operative by the 14 trade unions they are associated with. Every union of the country,
except GNB are counselling their member to accept the offer that is given by the government.
The employees of NHS have never worked so hard to make the deal work along with the some
crucial benefits in creating modernisation in a way how their contract work. (Torre, and et. al.
2015 )
TASK 2
A): Using Ogive charts in calculating median of earnings
For determining cumulative data by taking into consideration the quantitative and
qualitative sources which assists in analysing the business information using raw material. It will
determine the overall cumulative frequency of total number of operations in a series of data.
< 10 10 to 15 15 to 20 20 to 25 25 to 30 30 to 40 40 to 50
0
0.2
0.4
0.6
0.8
1
1.2
8.00%
30.00%
54.00%
68.00%
80.00%
94.00% 100.00%
Ogive chart (CF)
Relative CF
Hourly Earning rates
Commulative Frequency

Median: This is calculated by choosing the mid value of the series of data. The data is
first re arranged in a ascending or descending order and then the middle value is selected. The
median of a data divides the data in two halves , the lower part and upper part. In some certain
situations which arises in given data series are determined using the formula given below:
Q1= N/4, Q2= 3* N/4
Is situations of even data series it is calculated as following : Q3 = N+ ½
Median = L1 + (N/2) – c/F*i
here,
L1 is the lower limit of data
N is the total frequency
C is the cf of previous class interval
I is the class interval
So, the above calculation is done as below:
M= N/2= 100/2
= 50. It lies in data range of 15 -20, whose cf is 54.
Median: 10 + [(50 – 8)/46*10] : 10 + (42/46*10)
: 10+ 9.13 = £19.13.
Quartile: The quartiles can be defined as the quantile. There are three broad quartiles in
the company namely lower quartile, mid quartile and the upper quartile. ( Wegner, 2010 )The
lower or initial quartile comes under 25th percentage which is calculated as under:
Quartile calculation:

ii) Calculation of standard deviation and mean
Table for calculating mean
Mean: Mean is the statistical method of determining measures of central tendencies which is
calculated by adding all the values of a data series and dividing it by number of values given in
data. It is basically the average of the data of values given in a series. It is calculated by using the
formula as below:
Mean: = ∑F*x /∑F
= 2140 /10
= 21.40

The above data calculates the measures of dispersion known as standard deviation for a
series and it calculates the overall risks of a set of data that is given in observation. ( Xiao-wang,
and ZHANG, 2011)
Scattering Diagram: Every organisation takes into consideration different types of
variables and they are required to analyse definite set of relationship between different variables
of a series of data . The scatter chart helps in identification in indicating some modifications
about certain variables.

According to the above chart It has been identified that there is a specific
relationship among the total area and size that is further used for the evaluation of the total
profitability of the company.( Xin-ming, 2011)
Correlation coefficient among total size and turnover

As per the calculations done above to calculate the coefficient correlation between the
size and turnover , the correlation has been determined as 0.91 which is very near to the perfect
correlation value of +1. When the correlation of the two data are close to one that means they
have a good relationship , these are evaluated by using appropriate tools and techniques. The
minimum range of the data is calculated as 1.8 and the max range is determined as 5 on the total
size and turnover for a given data volume. ( Zhou, and Luo, 2015)
TASK 3
1): Cost efficient delivery situations
 Chi-square test: This is method of distribution which is primarily used in measuring the
considered data in the given series of data. The chi-square test is used when the null
hypothesis is positive.
 Correlation: the correlation coefficient measures the relationship between the two data
series which is calculated by taking the data of given time period.
A): Total number of deliveries that are made in the current year
As per the case study that is provided it has been observed that suppliers delivers rice in
the super markets. The calculation is done on the basis of evaluation of economic order quantity
required by the supplier to meet the daily requirement.

C): Calculation of EOQ
EOQ is the economic order quantity which should be managed by the store managers
such that day to day customer requirements of customers are meet by them effectively. The EOQ
also ensures that the so much amount of money is not captured in the inventory by keeping an
more than required stock in stores of company.
D) Total variable cost
The variable cost gives estimates about all the costs that is associated with the production
of every unit of product that is produced. The variable cost of production plays a key role in
determining the prices of the product.

TASK 4
A): Line chart indicating male and female earnings for the period
Line chart: This is said as an effective type of chart which will indicate the series of data
points which is used as markers that are linked by points on a straight line. It has been observed
that the line chart is most common and famous chart used in finance and used to formulate
balance in the total income.
a) Total Gross annual earnings
For Male
Year Public Private Changes
2010 31264 27000 4264
2011 31380 27233 4147
2012 31816 27705 4111
2013 32541 28201 4340
2014 32878 28442 4436
2015 33685 28881 4804
2016 34011 29679 4332
Total 227575 197141 30434
1 2 3 4 5 6 7
3600
3800
4000
4200
4400
4600
4800
5000
4264 4147 4111
4340 4436
4804
4332
Line chart
Gross earning of male from private and public sector
Changes
The above line chart puts an clear emphasis on the information taken from public and
private sector for the income of male employees.
For female

Year Public Private Changes
2010 26113 19532 6581
2011 26470 19565 6905
2012 26636 20313 6323
2013 27338 20698 6640
2014 27705 21017 6688
2015 27900 21403 6497
2016 28053 22251 5802
Total 190215 144779 45436
1 2 3 4 5 6 7
5000
5500
6000
6500
7000
7500
6581
6905
6323
6640 6688 6497
5802
Line chart
Gross total earning of female
Changes
According to above line chart , the vital information is been collected from both the public and
private sector. The above line chart shows the information about the earnings of the female
employees during a period. It has been seen that increasing rate is very fast in case of female
employees.
(b): Represent data by using ogive chart
Ogive chart: According to this particular chart , the data is represented in cumulative
frequencies according to total percentages in given data set. In different words, this will be added
on graphs from left to right.

CONCLUSION
As per the above report it has been concluded that , it has been interpreted that statistics is
very essential in managing aspect for the business. The statistics also helps in managing the
financial requirements and other financial matters of the company. Different types o crucial
information is analysed and interpreted with the assistance of line charts , graphs and other
diagrams such as Ogive and scatter charts. Finally this report provides the various valuables
things about the company by presenting reliable information with the use of the statistical
methods. The use of this report can assist the company in in increasing the growth and future
sustainability of the business.

REFERENCES
Books and journals:
Linoff, G.S. and Berry, M.J., 2011.Data mining techniques: for marketing, sales, and customer
relationship management. John Wiley & Sons.
Miller, M.B., 2013.Mathematics and Statistics for Financial Risk Management. John Wiley &
Sons.
Siegel, and et. al., 2014. Cancer statistics, 2014.CA: a cancer journal for clinicians.64(1). pp.9-
29.
Stevens, J.P., 2012.Applied multivariate statistics for the social sciences. Routledge.
Taylor, and et. al., 2015.Introduction to management science. Prentice Hall.
Torre, L.A., and et. al., 2015. Global cancer statistics, 2012.CA: a cancer journal for
clinicians.65(2). pp.87-108.
Wegner, T., 2010.Applied business statistics: Methods and Excel-based applications. Juta and
Company Ltd.
Xiao-wang, D.W.X.Y. and ZHANG, W., 2011. Factor Analyses in the Synthetic Assess of
Mental Health for Countryside Middle School Students [J].Journal of Applied Statistics
and Management,1.
Xin-ming, J.I.A., 2011. On Comparability of Measurement System by SEM [J].Journal of
Applied Statistics and Management,2.
Zhou, Q. and Luo, J., 2015. The risk management using limit theory of statistics on extremes on
the big data era.Journal of Computational and Theoretical Nanoscience.12(12).
pp.6237-6243.