Statistics for Management: PDF
18 Pages5012 Words422 Views
Added on 2020-10-23
Statistics for Management: PDF
Added on 2020-10-23
ShareRelated Documents
STATISTICS FORMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.a Determining that earnings of men in public sector is different from women earningthrough hypothesis testing..........................................................................................................11.b Determining that earnings of men in private sector is different from women earningthrough hypothesis testing..........................................................................................................2C. Using excel spreadsheet, drawing time chart of earnings of every group for year 2009 –2016.............................................................................................................................................3Gross annual earnings of Male (Both sector)..............................................................................3Gross Annual earnings of female (both sector)...........................................................................4D. Determining annual growth rate in earnings of four groups..................................................4TASK 2............................................................................................................................................52.1 Draft Ogive chart for estimating quartile and median of hourly earnings............................5A.2 Calculating mean and standard deviation for hourly earnings.............................................9Comparing earnings..................................................................................................................11TASK 3..........................................................................................................................................11a. Economic order quantity.......................................................................................................11b.................................................................................................................................................11c.................................................................................................................................................12d.................................................................................................................................................12TASK 4..........................................................................................................................................124.A Reflecting chart for CPI, RPI and CPIH from year 2007 – 2017......................................12B. Ogive chart for cumulative % of staff vs earnings on hourly basis......................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONStatistics is referred as term which is sued for summarizing process which an analyst usedfor characterizing a dataset. In case any data set is dependent on sample of large population, thenthere are high possibilities for framing interpretations on basis of population on initial based withreference to statistical outcomes from sample. It helps in good decision making on face ofuncertainty and applied in different disciplines like econometrics, production and operations,financial analysis along with marketing research and service improvements (Puri and Sengupta,2018). This helps in giving accurate information to company so it could avoid problems in thefuture. The present report will give evaluation of economic and business data or informationobtained through published resources. In this aspect, it will determine changes in gross annualearning in private and public sector from year 2010 and gap between 2010 to 2016. Furthermore,there will be application of office of national statistics to extract data on basis of industry sector.This report will evaluate and analyse raw business data with use of statistical methods andapplication of statistical methods with context to business planning. The findings will becommunicated with use of proper tables and charts.TASK 11.a Determining that earnings of men in public sector is different from women earning throughhypothesis testingNull Hypothesis: H0 – There is no difference in earnings of both women and men working inpublic sector.Alternative hypothesis: H1 - There is difference in earnings of both women and men working inpublic sector.Particulars Male ( Publicsector)Female (Publicsector)Average32276.6226929.87Variance1449962.27977868.41Number of Observations88Hypothesized Average Difference0Degree of freedom131
t Statistics9.71P(T<=t) one-tail1.27t Critical one-tail1.77P(T<=t) two-tail2.54t Critical two-tail2.16Interpretation: On basis of above table it had been there is extraction of t test whichreflects that p value is greater than 0.05 then there is acceptance of null hypothesis. With contextof referring this aspect, it could be stated that there is no significant difference in earnings ofboth gender men and women working in public sector as it is not statistically significant.1.b Determining that earnings of men in private sector is different from women earning throughhypothesis testingNull Hypothesis: H0 – There is no difference in earnings of both women and men working inprivate sector.Alternative hypothesis: H1 - There is difference in earnings of both women and men working inprivate sector.ParticularsMale ( working inPrivate sector)Female ( workingin Private sector)Average28062.8720541.25Variance840242.70988729.93Total Observations88Hypothesized average Difference0Degree of freedom14t Stat15.73P(T<=t) one-tail1.35t Critical one-tail1.762
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Statistics for Management - PDFlg...
|15
|3039
|334
Statistics for Management- Doclg...
|16
|2754
|486
Statistics for Management Assignment Solved - Doclg...
|15
|2766
|74
Statistics Financial in UKlg...
|28
|4065
|51
(Solution) Statistics For Management PDFlg...
|17
|3567
|150
Statistics for Management Assignment - (Doc)lg...
|17
|2657
|56