Statistics for Management - PDF

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Added on 2020-10-22

Statistics for Management - PDF

Added on 2020-10-22

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Statistics forManagement

Table of ContentsINTRODUCTION...........................................................................................................................1Activity 1.........................................................................................................................................1A) Determining the earnings of men and women in public sector.............................................1B) Determining the earnings of men and women in private sector.............................................2C) Earning time chart..................................................................................................................3Gross annual earnings of male of public and private sector ......................................................3.....................................................................................................................................................3Gross annual earnings of female of public and private sector ...................................................3D) Determination of annual growth rate in earnings..................................................................4Activity 2.........................................................................................................................................52A................................................................................................................................................5I) Use of ogive chart median hourly earnings along the quartile................................................5II) Calculation of the mean and standard deviation for hourly earnings.....................................72B. Comparison of the earning in London and Manchester......................................................8Activity 3.........................................................................................................................................9A) Economic order quantity........................................................................................................9B) Intervals for ordering T-Shirts...............................................................................................9C) Inventory policy cost..............................................................................................................9D) Current service level to customers.........................................................................................9E) Re-order level to achieve the desired service level................................................................9Activity 4.......................................................................................................................................10a) Graphical representation of CPI, CPIH and RPI from 2007-2017.......................................10...................................................................................................................................................11b) presentation of the Ogive chart for cumulative % of staff versus the hourly earnings.........12CONCLUSION..............................................................................................................................12

INTRODUCTIONStatistics is used in the managements of the data through mathematical tools forcollecting, interpreting, organizing and interpreting the data pertaining to different variables. Inthe present report the discussion related with difference in the earning of men and women in bothpublic and private sectors for the given region is determined with the use of statistical tool. Alongwith this the Ogive chart is used to determine the leisure staff v hourly earnings in the twoLondon and comparison is carried out for London and Manchester.Activity 1A) Determining the earnings of men and women in public sectorH0H1Null hypothesisAlternative hypothesisThere is no significant difference in earningof male and females working in public sector.There is significant difference in earnings ofmale and female working in public sector.Working in Public sectorParticulars Male Female Average3227626929Variance1449962977868Number of Observations88Hypothesized Average Difference0Degree of freedom13t Statistics9.71P(T<=t) one-tail1.27t Critical one-tail1.77P(T<=t) two-tail2.54t Critical two-tail2.161

Interpretation: from the above calculating it can be interpreted that the earnings in thepublic sectors for both men and females are different (Baak and et.al., 2015). The valve of p inthe above case is higher than 0.5 which accepts the null hypothesis stating the fact that there is nosignificant relation in the earnings of the men and the female in the public sector with an averageearning of male as 32276 and of female as 26929.B) Determining the earnings of men and women in private sectorH0H1Null hypothesisAlternative hypothesisThere is no significant difference in earning ofmale and females working in private sector.There is significant difference in earnings ofmale and female working in private sector.Working in Private sectorParticularsMale FemaleAverage28062.8720541.25Variance840242.70988729.93Total Observations88Hypothesized average Difference0Degree of freedom14t Stat15.73P(T<=t) one-tail1.35t Critical one-tail1.76P(T<=t) two-tail2.70t Critical two-tail2.15Interpretation: The above calculations determines the level of significance between theearnings of male and female in the private sector (Ali and Bhaskar, 2016). The value of p in thiscase also is more than 0.5 at 2.15 which leads to acceptance of the null hypothesis with stating2

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