(doc) Statistics for Management

Statistics for management

Table of Contents
INTRODUCTION......................................................................................................................4
TASK 1......................................................................................................................................4
(a) Change in the gross annual earnings in the public and private sector since 2009 and
gap in male and female gross annual earnings.......................................................................4
TASK 2......................................................................................................................................6
Question1...............................................................................................................................6
(a) Preparation of Ogive and Calculation of mean and standard deviation......................6
(b) Assessing the difference between the results............................................................10
Question 2............................................................................................................................10
(a) Preparation of scatter diagram and discussion on the association of floor area and
average weekly turnover......................................................................................................10
(b) Equation for the line that is best fit for the scatter diagram......................................11
(c) Calculation of turnover using the equation of scatter diagram..................................11
(d) Computation of correlation coefficient r...................................................................11
(e) Ascertaining the validity of the statistics...................................................................12
TASK 3....................................................................................................................................13
(B) Understanding the supplying of local super market......................................................13
(c) Number of bottles delivered in each delivery............................................................13
(d) Computation of economic Order quantity (EOQ).....................................................13
(e) Computation of the cost of current ordering policy and comparison of it to EOQ...14
TASK 4....................................................................................................................................15
(a) Preparation of scatter diagram for size versus turnover............................................15
(b) Preparation of line chart which indicates male gross annual earnings for the public
from 2009 to 2016 ...............................................................................................................15
CONCLUSION........................................................................................................................16
REFERENCES.........................................................................................................................17

Table of Figures
Figure 1Annual gross earnings...................................................................................................3
Figure 2 Gap between male and females earnings.....................................................................4
Figure 3 Hourly earnings and percentage of employees............................................................5
Figure 4 less than and more than type of data............................................................................5
Figure 5 Ogive............................................................................................................................6
Figure 6 Cumulative frequency calculation...............................................................................6
Figure 7 Calculation of mean.....................................................................................................8
Figure 8 Calculation of Standard deviation...............................................................................8
Figure 9 Difference between the calculations............................................................................9
Figure 10 Scatter diagram........................................................................................................10
Figure 11Size and turnover......................................................................................................11
Figure 12 Size and turnover.....................................................................................................14
Figure 13 Scatter diagram........................................................................................................15
Figure 14 table for line chart....................................................................................................15
Figure 15 Line chart for males.................................................................................................15

INTRODUCTION
Statistics is an important tool used in the companies to analyse the data set and reach
to an effective conclusion. The main and primary functions of statistics are, mean, mode,
median, standard deviation and correlation. It is a practice of collecting and analysing the
data set so that some information and knowledge can be developed out of the numbers. The
report discuses various factors of statistics and its application in the market in the practical
format. The report ponders on change in the gross annual earnings in public and private
sector through calculation of change in percentage. The preparation ogives and, line char and
scatter diagrams will be discussed with its usage (Rovai, Baker and Ponton, 2013). Economic
order quantity will also be calculated in such a manner so that supplier can get benefit out of
it. It will also discuss mean, mode, median and correlation calculation in order to better
analyse the data. In the end, scatter diagram will be created for size versus turnover and a line
chart will be produced for male gross annual earnings for the public from 2009 to 2016.
TASK 1
(a) Change in the gross annual earnings in the public and private sector since 2009 and gap in
male and female gross annual earnings
(i) Change in gross annual earnings in public and private sector
Figure 1Annual gross earnings
Gross Annual earnings
2009 2010 2011 2012 2013 2014 2015 2016
Public
sector
55,86
2 57,377 57,850 58,452 59,879 60,583 61,585 62,064
Percentage
change 2.71 0.82 1.04 2.44 1.18 1.65 0.78
Private
sector
46,91
3 46,532 46,818 48,018 48,899 49,459 50,284 51,930
Percentage -0.81 0.61 2.56 1.83 1.15 1.67 3.27