Report on Statistics for Management

Added on - 06 Jun 2020

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STATISTICS FOR MANAGEMENT
TABLE OF CONTENTSINTRODUCTION.......................................................................................................................................3TASK 1.......................................................................................................................................................31Introduction of change in gross annual income across private and public sector...................................32 Gap between male and female income.................................................................................................5TASK 2.......................................................................................................................................................5(A)Analysis of hourly earnings data........................................................................................................5(2) Calculation of descriptive statistics....................................................................................................6(b)Comparison of results.........................................................................................................................8(A)Floor area and weekly turnover..........................................................................................................8© Calculation of turnover when value of size given..............................................................................11(d) Calculation of correlation coefficient...............................................................................................12(e) Statistical validity of model..............................................................................................................12TASK 3.....................................................................................................................................................13(a)Number of delivery made on annual basis.........................................................................................13(b) Deliveries made on each round........................................................................................................13©Economic order quantity.....................................................................................................................14(d) Comparison of EOQ and cost...........................................................................................................14TASK 4.....................................................................................................................................................15(a)Scatter diagram of size and turnover.................................................................................................15(b) Income level of gender in public and private sector.........................................................................17(c)Male gross annual earning for public................................................................................................18CONCLUSION.........................................................................................................................................19...............................................................................................................................................................19REFERENCES..........................................................................................................................................20Figure 4Public and private sector male income level...................................................................................5Figure 5Public and private sector female income level...............................................................................5Figure6 Ogive chart.....................................................................................................................................7Figure8 Relationship between size and turnover.........................................................................................9Figure 9Turnover chart..............................................................................................................................17Figure10 Trend in gross income across gender and public as well as private sector..................................18Y
Table 1Change in public and private sector income....................................................................................4Table 2Gap between male and female income............................................................................................6Table 2Data for Ogive.................................................................................................................................6Table 3Calculation of mean.........................................................................................................................7Table 4Input for computing standard deviation...........................................................................................8Table 6Number of bottles transported.......................................................................................................14Table7 Calculation of economic order quantity.........................................................................................15Table 8 Cost at different level of EOQ......................................................................................................15
INTRODUCTIONStatistics is one of the most important area that is proving very helpful to managers for makingbusiness decisions. In current report income related trends are analyzed in respect to public and privatesector and charting of same is done to identify trends that remain in existence. Regression analysistechnique is also applied on dataset in order to identify relationship that exists between dependent andindependent variables. On the basis of correlation coefficient relationship between variables is find outvalidity of model is evaluated. In this way it is determined that reliable results are obtained from model.TASK 11Introduction of change in gross annual income across private and public sectorTable Change in public and private sector incomePublic sector5586257377578505845259879605836158562054Private sector4691346532467984801848899494595028451930% Change in public sector3%1%1%2%1%2%1%% Change in privatesector-1%1%3%2%1%2%3%InterpretationFacts revealed that at same rate income level in public and private sector is changing onyearly basis. However, if growth rate will be compared across varied years then it can beobserved that rate keeps on fluctuating. Thus, it can be said that wages on yearly basis ischanging at same rate. Second fact that can be observed from table is that earning in publicsector is much higher than private sector. Hence, scope of earning is high in public then privatesector.
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