(Solution) Statistics For Management PDF

Added on - Dec 2020

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STATISTICS FORMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................11.a Identifying men and women’s earning of public sector on basis of hypothesis testing........11.b Identifying men and women’s earning of private sector on basis of hypothesis testing.......21.c Design earnings time chart of every group with use of spread sheet (2010- 2016)..............21.d determine annual growth rate of earning of every group......................................................4ACTIVITY 2....................................................................................................................................72.A.a Applying ogive chart to estimate median of hourly earnings with reference to quartile..72.A.b Calculating mean and standard deviation of hourly earnings of leisure staff...................92.B Comparing hourly earnings of leisure staff employees in London and Manchester region...................................................................................................................................................10ACTIVITY 3..................................................................................................................................11a. Calculating economic order quantity...................................................................................11b. How often order and cost......................................................................................................11c. Calculating Inventory policy cost..........................................................................................11d. Specify current service level.................................................................................................12e. Finding re-order level............................................................................................................12ACTIVITY 4.................................................................................................................................124.B Drafting Ogive chart of cumulative % of leisure staff employees vs earning on hourlyperspective................................................................................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONStatistics is known as form of mathematical analysis which directly applies quantifiedmodels, synopses and representations for a specified set of experimental data or with real lifestudies. Generally, statistics studied methodologies for collecting, reviewing, drawing andanalysing conclusions through data. The present report would provide discussion about men andwomen earnings of male and female who are employed in public and private sector with contextto hypothesis testing. In the same series, it would articulate about hourly earnings of leisure staffof London and Manchester earnings with context to descriptive statistics. Moreover, this reportwill reflect economic order quantity, inventory policy cost and re-order level of Jenny Jones’shop. Lastly, it will show graphical presentation of indexes as Consumer Price Index, CPIH andRetail price Index.ACTIVITY 11.a Identifying men and women’s earning of public sector on basis of hypothesis testing.H0: Null hypothesis- There is no difference in men and women’s earnings of public sector.H1: Alternative hypothesis- There is difference in men and women’s earnings of public sector.Interpretation: The above table is outcome of t test with context male and female workingin public sector as their average is 32276 and 26929 significantly. It has been clearly viewedwith context to statistical significance that p value is more than 0.05 so here null hypothesis istrue. In simple words, it could be elaborated that there is no difference in men and women1
earnings working in public sector (Rudolf and et.al, 2018). Simultaneously, it has been extractedwith 13 as degree of freedom and variance as 1449960 and 977868 men and women respectively.1.b Identifying men and women’s earning of private sector on basis of hypothesis testing.H0: Null hypothesis- There is no difference in men and women’s earnings of private sector.H1: Alternative hypothesis- There is difference in men and women’s earnings of private sector.Interpretation: The above table is showing outcome of t test of earnings of male and femalein private sector as their average is 28062.87 and 20541.25 significantly. Further, withstatistically significance it has been derived that p value is more than 0.05 so alternativehypotheses is rejected. In simple words, it could be stated that there is no significant difference inmen and women earnings who are working in private sector.1.c Design earnings time chart of every group with use of spread sheet (2010- 2016)MaleFemalePrivate(M)Private(F)2010270001953220112723319565201227705203132
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