Statistics for Management Assignment - pdf
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Added on 2020-12-09
Statistics for Management Assignment - pdf
Added on 2020-12-09
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STATISTICS FORMANAGEMENT
INTRODUCTIONStatistics is replicated as branch of mathematics which directly deals with organising,interpretation, collection, presentation and analysis. This term is used for summarising processwhich one could use for developing interpretations related to population primarily on basis ofstatistical outcome via sample (Bzdok, Altman and Krzywinski, 2018). This analysis involvesprocess of collecting and evaluating data and then data is summarised in mathematical form. It isscience for appropriate decision making with context to uncertainty and implied is manydisciplines like financial analysis, auditing, operations and production which considersimprovement in services along with marketing research. It allows undertaking smarter decisionand this helps for offering organization with appropriate information that one could rely forreference. The present report will discuss about earnings of men and women employed in publicand private sector. In the same series, it will articulate about earnings of leisure staff with Ogiveand other descriptive statistics in London area. Furthermore, it will articulate comparison inearnings of London and Manchester region.ACTIVITY 11.a Determining earnings of male and female are different in public sector with reference tohypothesis testingH0Null hypothesisThere is no significant difference in male and female earningswho are working in public sector.H1Alternative hypothesisThere is significant difference in male and female earnings whoare working in public sector.1
Interpretation: TTabular presentation shows t test for extracting that male and femaleearnings are different in public sector. In this scenario, p>0.05 which in turn indicates that nullhypothesis is appropriate. Hence, it can be mentioned that statistically no significant differencetake place in the earnings public sector workers including both male and female (Chevalier andKashyap, 2019). The average earnings of male and female in public sector accounts for £32276and £26929 respectively.1.b Determining earnings of male and female are different in private sector with reference tohypothesis testingH0Null hypothesisThere is no significant difference in male and female earningswho are working in private sector.H1Alternative hypothesisThere is significant difference in male and female earnings whoare working in private sector.2
Interpretation: in the above scenario, there is articulation of average income in privatesector of male and female as 28062 and 20541 respectively. On basis of statistical significance ofp value which is higher than 0.05 so in this context, alternative hypothesis is not accepted. Insimple terms, it could be justified that there is absence of significant difference in earnings ofmale and female who are employed in private sector.1.c. With application of excel spreadsheet, framing earning time chart of each group over year2009 to 2016.Gross annual earnings of male of public and private sector 3
Interpretation: The above table and graph is articulating about time chart for earnings ofmale category who are working in public and private sector as well over year 2010 to 2016. itcould be clearly observed about significant growth but will less proportion. On basis of privatesector as in every year it raised but in 2016, it had major change of 2.76%. In the similar aspect,its lowest change was in year 2014 as 0.85%. While extracting change, it has been evaluated thatearnings of private sector is raising at rapid pace comparatively to public sector. Numerically, itcould be elaborated as public sector from 2007 to 2017 was 8.78% as smaller than private sectorof same duration by 9.92% (Lachowska and Myck, 2018). Thus, it shows presence of highpotential in private sector along with variation in earnings of male in public and private sector aswell.Gross annual earnings of female of public and private sector 4
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