Statistics Essay

Words: 1878

Pages: 8

Open Document

BUSINESS STATISTICS ASSIGNMENT
Project Title: Employee retention at D&Y consulting firm

Section E:
Group 2:Anshul Garg (11FN-015)-Finance Gokul Sudhakaran(11DM-039)-Marketing Kaviya .A. (11DM-057)- Marketing Nikhil Gagrani(11DM-089)- Marketing Sheth Dharmil Nirupam(11DM-147)-Marketing Taru(11IB-061)-International Business

Submission Date:- 9th September,2011

TABLE OF CONTENTS
1. Case
2. Objective of the problem
3. Methodology used
4. Analysis
5. Excel output
6. Conclusion
7. Managerial implications

CASE: EMPLOYEE RETENTION AT D&Y CONSULTING FIRM
Demand for systems analysts in the consulting industry is very strong. …show more content…
METHODOLOGY USED
Software used: Excel
(1)Thus for calculating the confidence interval for t-distribution we have used the following equation: ẋ ± [t * (s/√n)]
In the equation: ẋ- the sample mean t- confidence coefficient s-sample standard deviation n-sample size
(2) For calculating the confidence interval for difference between means of two different samples:- calculating common standard deviation- sp = √((n1 – 1)s12 + (n2 – 1)s22)/(n1 + n2 – 2)) calculating standard error:- sp√(1/n1) + (1/n2) confidence interval:- (ẋ1 - ẋ2) ± (t * SE(ẋ1 - ẋ2))
(3) For calculating the confidence interval for proportion of population:-
Formula used-ṕ ± z * √[(ṕ(1 - ṕ))/n]
In the above equation ṕ-sample proportion z-confidence coefficient

ANALYSIS
1. Although starting salaries are in a rather fine band, D&Y questions whether starting compensation correlates to retention. As asked in the question, a 95% confidence interval for the mean starting salary of all employees who stayed with D&Y at least three years is calculated using excel. As we don’t know the population variance,we assume the mean

Examples Of Statistics In Statistics

by n-1 if it is a sample, devide by n if it is a population. There is no need to adjust for the degree of freedom if you have the entire population and not just a sample. Standard deviation is = the square root of the variance. Lecture notes Statistics come from samples and parameters come from populations. s goes with s and p goes with p. Qualitative doesn’t have numbers (labels not numbers). Quantitative has to do with numbers. Census is entire population sample is part. Take a sample when it…

Words 300 - Pages 2

Descriptive Statistics

Chapter 4 Descriptive Statistics Topics  Numerical Descriptors- obtained from excel  Measures of Central Tendency- calculate and interpret  Measures of Dispersion- calculate and interpret  Correlation and Covariance- calculate and interpret  Standardized Data  Outliers  Chebyshev’s Theorem  Empirical Rule  Box Plots Chapter 4 Descriptive Statistics Page 1 Central Tendency, Dispersion, and Shape  Where are values concentrated?  How much do values vary?  Is the distribution symmetric…

Words 2073 - Pages 9

statistics paper1

Liza Zoellick Behavioral Statistics 3301 Candace Perks This article discusses suicide and is actually a response to a Los Angeles Times article with the headline, “Jump In Youth Suicides Reverses Trend.” According to this author, it reports a jump of 76% in suicides of girls ages ten to fourteen and states that the overall suicide rate for people 10-24 increased at an alarming rate, as much as 8%. (Steinheimer, 2007) Visually, these numbers can sound alarming and causes the viewer to gasp at such…

Words 563 - Pages 3

A Note On Statistics

http://www.neighbourhood.statistics.gov.uk/HTMLDocs/dvc126/ www.carltoncolvilletowncouncil.gov.uk/directory/by-name/ http://www.primelocation.com/for-sale/details/32079410?search_identifier=88febfb1e7741e0a8ad112e191320753#RLVTdFjGKWX1igyz.97 http://www.primelocation.com/new-homes/details/35267709?search_identifier=88febfb1e7741e0a8ad112e191320753#Q2ZZadLk8mRSCBf2.97 http://www.primelocation.com/for-sale/details/35461951?search_identifier=88febfb1e7741e0a8ad112e191320753#PBJcS0mv3BsIomdg.97 https://sites…

Words 654 - Pages 3

Statistics In Business

Statistics in Business Courtney Thomas QNT/351 Prof. Terrell 06/15/2015 Statistics in Business Statistics are used every day to analyze what’s happening around the world. We live in the informational age where it’s imperative to understand the why, when, and how the world is operating. Throughout this paper we will define statistics, identify different types and levels of statistics, describe the role of statistics in business decision making and also will provide three examples in which…

Words 491 - Pages 2

Statistics: Statistics and Single Scientific Interpretation Essay

marketing, human behavior, law, engineering, etc. 3. The ways in which statistics are used in everyday life are almost limitless. For example: Statistics are used in legal proceedings involving employment discrimination and DNA testing. Statistics are used in managerial situations to display and capture data regarding sales, revenues, profits, etc. Statistics are used in manufacturing to effect process controls. Statistics are used in sports to establish tendencies and relate performance…

Words 373 - Pages 2

Statistics Essay

autonomy-deprived condition to respond to the autonomy-related words, and 211 is the standard deviation across the 26 participants’ average response time in that condition. Explain the numbers in this table to a person who has never had a course in statistics. (Be sure to explain some specific numbers, as well as the general principle of the mean and standard deviation.) For your interest, the pattern of results shown here supported the researchers’ hypothesis: “Relative to a neutral instructional climate…

Words 1108 - Pages 5

Statistics Paper

Graphs No Colour (Box & Whisker Graph): The box & whisker graph and the summary statistic chart shows that the the median of the no colour recall is 28 percent. The middle 50% of people who recalled the numbers with no colour got between 22 and 36 percent. The interquartile of the no colour recall is 14 percent. Color (Box & Whisker Graph): The box & whisker graph and the summary statistic chart shows that the median of the colour recall is 32 percent. The middle 50% of peo…

Words 1045 - Pages 5

Engineering Statistics Essay

Engineering Statistics Answer 1: (a) Engineers wish to test for any changes in the compressive strength of concrete with new additives. (i) The recommended test statistic for this experiment would be a two-tailed t-distribution hypothesis test. In the short description of the experiment the population variance is unknown and has to be estimated from the sample variance. In addition, the sample is 27 concrete test blocks which makes it a small sample (n = 27 which is < 30) proving…

Words 1697 - Pages 7

American Housewife Statistics

African-American(Black)- 4% * Asian-American- 3% * European(Caucasian)-54% * Hispanic- 4% * Native American-4% Education * Drop Out/GED-3% * High school Diploma-70% * Bachelor’s Degree-11% * Graduate/Ph.D.- 8% Based on these statistics there are only American Housewives if she is under 21 but over 16, and only have a high school diploma. What does that say? According to statistical data it shows that more women with education and still young and “firm” are available to become…

Words 489 - Pages 2