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Statistics for Management- Doc

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Added on  2020-10-23

Statistics for Management- Doc

   Added on 2020-10-23

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STATISTICS FORMANAGEMENT
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INTRODUCTIONStatistics is considered as term which is used with context to summarize process that isused through analyst for characterising particular data set. In the recent times, firms lay highlevel of emphasis on undertaking statistical tools and techniques with the motive to developsuitable framework for decision making from large data set.This report will provide deeperinsight about economic and business data gained by Office of National statistics with context toearnings of male and female working in both public and private sector. Furthermore, it willarticulate about hourly earnings of London and Manchester region on basis of descriptivestatistics. Moreover, it will also exhibits how ogive chart and other graphs helps in presentingdata set appropriately.ACTIVITY 1(a) Identifying significant difference in earnings of men and women in public sectorNull hypothesis: H0: There is no significant mean difference of men and women 's earning ofpublic sectorAlternative hypothesis: H1: There is significant mean difference of men and women 's earning ofpublic sectorInterpretation: The above table is stating outcome of t test among earning of men andwomen in public sector. The mean of male is 32276.62 and of female is 26929.87 and in thesimilar context, there p value is more than 0.05 (Chevalier and Kashyap, 2019). It could be1
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articulated that alternative hypothesis is accepted because of p value and could be elaboratedabout presence of significant mean difference of men and women's earning of public sector.(b) Identifying significant difference in earnings of men and women in private sectorNull hypothesis: H0: There is no significant mean difference of men and women 's earning ofprivate sectorAlternative hypothesis: H1: There is significant mean difference of men and women 's earning ofprivate sectorInterpretation: In the above scenario, it is stating about earnings of female and malebelonging to private sector. The mean of female is private sector is 20541.25 and male is28062.87 with degree of freedom as 14. Simultaneously, it has clearly viewed about p valuewhich is greater than 0.05. In this context, it could be elaborate about acceptance of nullhypothesis and in simple terms, there is no statistical significant mean difference in men andfemale working in private sector.(c) Drawing earnings time chart for year 2009-2016Gross Annual earnings of men in Public and private sector2
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