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Statistics for Management Assignment (Solved)

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Added on  2020-12-18

Statistics for Management Assignment (Solved)

   Added on 2020-12-18

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Statistics for Management
Statistics for Management Assignment (Solved)_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ACTIVITY 1...................................................................................................................................1A. Colleting the information relevant with Consumer price indices and Retail price index fromOffice of National Statistics.........................................................................................................1B. Pictorial presentation of the data changing from 2007 to 2017..............................................3C. Ascertaining the differences between such variables.............................................................3D. Implicating the use of Consumer price index in analysing the annual inflation rate..............4E. Giving the reasons based on importance of analysing rate of inflation..................................5M1 Critical evaluation of the sources other than Office national statistics with regard toGender pay gap............................................................................................................................6ACTIVITY 2...................................................................................................................................61. Client B analysing the hourly pay rates in different UK regions............................................6A. Presentation of ogive chart which states the details of median and quartiles of data set.......62. Calculating the standard deviation and mean value of hourly earnings:.................................8B. Comparing the hourly earnings of Manchester and London region:.....................................9M2 Evaluation of the data which have been used by considering the various methods statistics...................................................................................................................................................10D1 Analysing the differences between the descriptive, exploratory and confirmatory analysis...................................................................................................................................................10ACTIVITY 3.................................................................................................................................101. Client E Analysing the significance differences between the new and old system forprocessing better insurance claims............................................................................................10A. Determining a paired T-test at the 5% of significance level:...............................................11B. Stating a fully usual condition for a paired T test:................................................................12C. Constructing a 99% confidence interval for analysing mean differences in the new system...................................................................................................................................................12M3 Evaluation of the statistical methods used in above activity...............................................14D2 Explanation to the recommendation made in above activity...............................................14ACTIVITY 4.................................................................................................................................15
Statistics for Management Assignment (Solved)_2
A. Presenting the differences between Indices from Office of national statistics from 2007 to2017...........................................................................................................................................15B. Ogive chart of staff vs hourly earnings.................................................................................15M4 Justification on the choice of graphical presentation..........................................................16D3 Evaluation of the graphical presentation and tabular analysis.............................................16CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
Statistics for Management Assignment (Solved)_3
INTRODUCTIONTo analyse the outcomes and make judgement relevant with the business obstacles there willbe requirement of making appropriate changes in the operational analysis. In the present reportthere will be analysis and discussion based on various data base gathered through reliablesources. There will be analysis of annual inflation rate which will be gathered from consumerprice indices from Office of National Statistics. Moreover, there will be identification of variousstatistical elements which were analysed on the basis of measuring the mean, median, quartilesand standard deviation. Along with this, there will be analysis over the hypothesis defining thesignificant differences between the new and old system. In addition, there will be pictorialpresentation of various data base which helps in articulating the changes in the variables.ACTIVITY 1A. Colleting the information relevant with Consumer price indices and Retail price index fromOffice of National StatisticsTo determine the changes incurred in the consumer price index for the period of 10 yearsthey have been collection of data set from Office of National Statistics which will be helpful inpresenting the appropriate analysis over issues. Along with this, there have been collection ofdata of retail price index of same time duration (CPIH ANNUAL RATE, 2018). Therefore, theseare the details which reflect the trade power and purchasing power of buyers in UK economy.1
Statistics for Management Assignment (Solved)_4

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