Statistics Of Management Project Report
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Added on 2020-06-05
Statistics Of Management Project Report
Added on 2020-06-05
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STATISTICS OFMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A. (i) Changes in the gross annual earnings in private and public sector since 2009............1A. (ii) Gap among male and female gross annual earnings....................................................2TASK 2............................................................................................................................................4A. (i) Creating Ogive graph to determine estimate the median hourly earnings & quartiles.4A. (ii) Computation of mean and standard deviation for hourly earnings..............................6ii. Standard deviation .............................................................................................................7B. Comparison of North East and South East hourly earnings..............................................8A. Scatter diagram and discussion among floor area and turnover........................................9B. Line of best fit equation...................................................................................................10C. Calculation of turnover at outlet size of 30 sqm..............................................................10D. Correlation coefficient.....................................................................................................11E. Statistical validity.............................................................................................................11TASK 3..........................................................................................................................................12B. (a). Calculation of number of deliveries..........................................................................12B. (b) Calculation of number of bottles sold of olive oil......................................................12B. (c). Calculation of economic order quantity....................................................................13B. (d) Finding cost due to changing in EOQ........................................................................14TASK 4..........................................................................................................................................15A. Scatter diagram of size versus turnover...........................................................................15B. Producing line chart.........................................................................................................15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INDEX OF TABLESTable 1: Changes in the gross annual earnings in private and public sector since 2009.................1Table 2: Gap among male and female gross annual earnings..........................................................2Table 3: Information for Ogive chart...............................................................................................4Table 4: Computation of mean........................................................................................................6Table 5: Information for performing calculation of STDV.............................................................7Table 6: Computing number of bottles..........................................................................................12Table 7: Computing EOQ..............................................................................................................13Table 8: Cost at various EOQ level...............................................................................................14
ILLUSTRATION INDEXIllustration 1: Male and female earnings from private and public sector........................................3Illustration 2: Male and female earnings from private and public sector........................................4Illustration 3: Ogive chart................................................................................................................5Illustration 4: Line chart on gross annual earnings from private and public sectors.....................15
INTRODUCTIONStatistics is a science that comprises data collection, classifying, presentation, comparisonand interpreting numerical data set. In today’s time, corporate managers need to deal withmultiple of data set to measure their performance, market trend and other essential information.Statistical methods facilitate corporate managers to analyse & examine important facts andfigures to gain important materialistic insight and thereby make well informed businessdecisions. It is therefore, present report target is to determine that how different methods ofstatistics and its visualization. Apart from this, correlation coefficient statistical tool is taken intoconsideration in the present project in order to determine relationship between two data set.Economic Order Quantity is a tool which helps to the business for making various decisionsrelated to stock, is used in the current assignment. TASK 1A. (i) Changes in the gross annual earnings in private and public sector since 2009Table 1: Changes in the gross annual earnings in private and public sector since 2009Year20092010201120122013201420152016Public5586257377578505845259879605836158562064Private4691346532467984801848899494595028451930% Change in annualearning of public sector3%1%1%2%1%2%1%% Change in annualearning of private sector-1%1%3%2%1%2%3%It can be seen from the above data that, very little changes occurred in the data set in bothpublic as well as private sector. Level of changing in gross annual income is start from -1% andthe highest change is around 3%. When looking at the only public sector then at the initial yearlike from 2009 to 2010 change is 3% which is the highest from whole data set. As number ofyear passed then change incurred is with 1% and 2% up to the FY 2013. At the end of years likefrom 2014 to 2015 and 2015 to 2016, change in gross annual income is 2% and 1% respectively.By considering this trend of change in gross profit, the employees must take corrective actionsfor enhancing this particular income level. When visualising to the private sector then change in1
earnings are comparatively high. At the initial year i.e. 2009 to 2010 it was in negative like -1%but after that increase with 3% and 2% at most of the times. A. (ii) Gap among male and female gross annual earningsTable 2: Gap among male and female gross annual earningsYear20092010201120122013201420152016Median gross annualearnings (Male)Public sector3063831264313803181632541328783368534011Private sector2736227000272332770528201284422888129679Total5800058264586135952160742613206256663690Median gross annualearnings (Female)Public sector2522426113264702663627338277052790028053Private sector1955119532195652031320698210172140322251Total4477545645460354694948036487224930350304Change in pay acrossgender (Total of male-Total of female)13225126191257812572127061259813263133862
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