...Summarizing and Presenting Data QNT / 351 Summarizing and Presenting Data In both employee surveys BIMS used all three levels of measurement to analyze the data collected. In reviewing the findings from the employee survey, the ultimate goal was to get the overall census of the employees on the survey questions. These survey questions were engineered to evaluate the satisfaction level of the employees at BIMS and to reveal the underlying issues and continuous concerns that were causing the high turnover and low morale at BIMS. The interval level of measurement was used to display the employee’s length of employment and a numeric code was used to describe the nominal, ordinal and interval data. Descriptive statistics was used to show the mean, median, mode and central tendency of the data. An analysis of each survey question was broken down and the interpretation displayed on tables, charts and graphs. These graphs give an overall visual description of the answers to each question. After all the data had been analyzed, displayed, and interpreted, the outcome shows that BIMS was experiencing high turnover due to low pay and lack of communication within the organization. Descriptive Analysis The intention of descriptive analysis is provide a clear understanding through the use of graphical and numerical visual of the patterns and unique trends in the data set of interest. The inferences made through these resources will provide valuable information for the decision-makers...
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...Summarizing and Presenting Data University of Phoenix Quantitative Analysis for Business QNT/351 June 02, 2014 Summarizing and Presenting Data At Ballard Integrated Managed Services (BIMS), we pride ourselves on providing excellent services to our business partners and offering excellent employment opportunities. This is why Barbara Tucker, the general manager for BIMS at Douglas Medical Center, has grown concerned over a recent increase in employee turnover rates. The employee turnover rate has increased from annual averages of 55%-60%, which correlates with other local area businesses, up to its current peak of 64%. Barbara believes that the increased turnover rate among BIMS employees is due to an overall decrease in morale. In an attempt to identify the contributing factors of this problem and offer insight to a possible solution, an anonymous non-mandatory survey was administered to each of its 449 employees. Out of the 449 employees, only 78 completed the survey. In this report, several key factors will be discussed as to why employee morale is low and turnover rates high. Recommendations for a solution to the problems and ways to increase employee participation with surveys moving forward will be addressed. The data collected from the surveys issued to employees indicate that the increase in turnover rates is directly related to low morale among the staff. Some of the more concerning answers were from questions six and nine, which revealed negative responses...
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...Summarizing and Presenting Data Team C Erin E. DeVera, Robin Evans, Cheryl Houston, Craig Isaac, Burnadette Johnson, Tiffany Pena, Darren Smith QNT/351 June 25, 2012 Alemayehu Lirenso, PhD Summarizing and Presenting Data Summarizing data effectively to communicate concepts with clarity to ensure an understanding by an audience is important when presenting. The central location comprised of mean, median, and mode, followed by the measure of dispersion; standard deviation, variance, skewness, and coefficient of variation are used to evaluate wages, education level, and work experience. Bivariate charts in the form of bar, histogram, line or pie graphs are an effective method of displaying key findings necessary for data analyst and interpretations. Central Location Measure of central location is a measure of location within a distribution and summarizes the one score that best describes the centrality of the data. The measure of tendency that best represents the data set in this example is the median for wages as it represents a good indicator of the typical salary within the data set. | | |Mean |Median |Mode | |Wages |$3,083,346 |$30,833.46 |$43,036 |$20,852 | |Education |1273 |12.73 |18 |12 | |Experience |2038 ...
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...Summarizing and Presenting Data QNT/351 Ballard Integrated Managed Services, Inc. Data Collection- Part One Ballard Integrated Managed Services, Inc., (BIMS) is an organization that provides food and accommodations for their employees, the patients at Douglas Medical Center, along with other large companies. A change in the company has been taking place and trending towards many employees leaving for other employment opportunities. The turnover rate for BIMS is normally in the range of 55 to 60%, however, for the past few months it has increased to 64%. What is causing the turnover rate to increase and the moral across the organization to decrease? If management puts an emphasis on the employees and their training, will the turnover rate improve? Overview Barbra has noticed several other behaviors lately which appear to be a symptom of a deeper problem, but has been unable to determine the root cause of a climbing turnover rate and the overall decline in morale. In effort to discover the cause within the organization, a survey was administered. Unfortunately, the survey did not provide the results or guidance for management to lead the team in a direction that would change the culture of the organization or the way the employees at BIMS feel about their experiences at BIMS. If management continues to look only at the symptoms of the problem, the root cause will continue to exist and deteriorate the culture further. Debbie Horner, the HR manager developed and administered...
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...Statistics in Business Michael Foster QNT/351 September 16, 2015 Henry Jacobs Statistics in Business The definition of statistics is the logic science of gathering data. The application of statistics is a systematic procedure of collecting, classifying, summarizing, organizing, analyzing, and communicating numerical information's (Lind, Marchal, & Wathen, 2011). There are two categories of statistics; descriptive and inferential statistics. The identity of descriptive statistics is a certain method of organization, summarizing, and presenting data in an informative way (Lind, Marchal, & Wathen, 2011). The identity of inferential statistics is classified as a method implemented to estimate a property of a certain population on basis of a sample (Lind, Marchal, & Wathen, 2011). There are four type and levels of statistics in the business and industry. The four types and levels of statistics are classified as (level 1) nominal-data is classified information. Ordinal-data (level 2) is date of rank of information. Interval-data ( level 3) is the difference in value. Ratio-data (level 4) is meaningful 0 points and ratio between values ("Data Levels Of Measurement", 2015). The role that statistics play in the business world is describe as a insightful communication tool to resolve key issues in modern-day business, through decision-making (Hahn, 2015). Today's statistics allow supervisor to encourage their employees to be proactive and productive in...
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...just about the numbers, but how they are used to interpret data and trends to predict future success. Statistics are an important aspect of peoples’ daily lives and are extremely valuable in the business world. Definition, Types, and Levels Statistics is the science of data and involves gathering, summarizing, classifying, evaluating, organizing, and describing mathematical data (McClave, Benson, & Sincich, 2011) to aid in making more efficient decisions (Lind, Marchal, & Wathen, 2011). There are two types of statistics: descriptive and inferential. Descriptive statistics refers to methods of summarizing, organizing, and presenting data (Lind, Marchal, & Wathen, 2011). Inferential statistics are methods used to gauge a substance of a community on the basis of a selection (Lind, Marchal, & Wathen, 2011). There are four levels of statistics: nominal, ordinal, interval, and ratio. Nominal classifies and counts measured observations, ordinal is used to rank data according to relative value, interval has the same features as ordinal but includes constant size differences, and ratio is the highest level of statistical measurement, specifically for quantitative data (Lind, Marchal, & Wathen, 2011). All types and levels have a significant role in business. Role of Statistics in Business Statistics has a very vital role in business and managerial decision-making because it provides the tools for data collection and critical thinking (McClave, Benson, & Sincich...
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...might be more or less as well as winning and losing. There is still that scale that separates the two where one is ahead of the other. The people analyzing and drawing conclusions are getting this information have to get it out to those that follow up on whatever the subject may be fast because people want to know. It’s said that Statistics is the science of planning studies and experiments, obtaining data, and then organizing, summarizing, presenting, analyzing, interpreting, and drawing conclusions based on data according to (Pearson’s Elementary Statistics Using Microsoft Excel by, Mario F. Triola). This is the same as I said without including all of the other tools needed, or used in Statistics. Television shows are another example being on statistic radar so to speak. You have so many television shows that are out right now, but how do we know which one is the most watched? What if you want to know which show makes the most money? As I mentioned earlier, you see the comparisons having to be made between two or more entities has to be made. This is when summarizing, analyzing, and interpreting comes in to play because you have to do all of those things to come to a conclusion or rather an answer to what millions...
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...Statistics in Business Danielle Devlin QNT/351 December 23, 2013 Mourad Tighiouart Statistics in Business Statistics is another way of saying gathered numerical information. Lind, Marchal, and Wathen, state that statistics is “the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions” (2011). There are currently two types of statistics, descriptive and inferential. Descriptive statistics is described by Lind, Marchal, and Wathen as “methods of organizing, summarizing, and presenting data in an informative way” (2011). Inferential statistics is described by Lind, Marchal, and Wathen as, “The methods used to estimate a property of a population on the basis of a sample” (2011). With the two types of statistics there are also four levels of statistics. These levels are called statistical data measurement. Each level of measurement allows data to be classified. These measurements are: nominal, ordinal, interval, and ratio. Nominal level of measurement as qualitative variables is only allowed to be classified and counted. An example of nominal level of measurement would be gender, because there is no natural order to the outcomes. The next level of measurement is ordinal. This level is used when rating or ranking date. An example of ordinal level of measurement would be how a survey rates a product or service as “Good”, “Better”, or “Best”. Next is the interval level of measurement. This...
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...“The science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions” (p.5). Types and levels of statistics There are two major types of statistics, descriptive and inferential. Descriptive statistics is defined by Lind (2011) as “methods of organizing, summarizing, and presenting data in an informative way” (p.6). An example of descriptive statistics would be a high school report showing that it had 300 graduates in 1990 and 450 graduates on 1991. The information that they provided described the amount of graduates that they had for each year. Inferential statistics is defined by Lind (2011) as “the methods used to estimate a property of a population on the basis of a sample” (p.7). If the same high school sent out a report showing the graduate numbers for 1999- the present to estimate the number of graduates that they would have for this school year, those statistics would be inferential because they are used to estimate future outcomes. There are four levels of statistical data: nominal, ordinal, interval and ratio. The nominal level deals with qualitative variables such as colors and blood types that can only be counted and classified. Ordinal data measurement is a variable rating system that ranks data according to predetermined categories that have only relative values such as poor, average, and good. Data can be ranked and ordered using this method. Interval data measurement adds to the ordered level...
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...What is Statistics Statistics is defined as the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions. Types of Statistics There are two different types of statistics Descriptive Statistics and Inferential Statistics. Descriptive Statistics is the methods of organizing, summarizing, and presenting data in an informative way. Inferential Statistics is the method used to estimate a property of a population on the basis of a sample. Levels of Measurement There are four levels of measurements with statistics. The levels of measurement are the nominal, ordinal, interval, and ratio. Nominal Level of Measurement Of the four, the lowest and most primitive of the four levels of measurement is the nominal level of measurement. In the nominal level, the data are sorted into categories with no particular order to the categories. Ordinal Level of Measurement The ordinal level of measurement presumes that one classification is ranked higher than another classification. Interval Level of Measurement The interval level of measurement has the ranking characteristics of the ordinal level of measurement plus the characteristics that the distance between values is a constant size. Ratio Level of Measurement The highest, or the level that gives the most information about the observation, is the ratio level of measurement. The ratio level of measurement has all the characteristics of the interval level, plus...
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...This paper will explain what statistics are. Statistics are used in so many ways, including business. This paper will thoroughly defining statistics, the types and levels of statistics, the role of statistics in a business and examples of how statistics may be used. The most common definition for statistics would be the collection of numerical data. Examples of numerical data could be the percentage of how many African-Americans passed, dropped out or failed out of high school in Vallejo, CA in 2013. Another would be how many slam dunks did LeBron James have last year or asking how many assist did LeBron James average last season; would give you numerical data. In this coarse, statistics is described as the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions. Statistics are usually divided into two catagories, descriptive and inferential statistics. Discriptive statistics are the methods of organizing, summarizing and presenting data in an informative way. Inferential statistics (also known as statistical inference) are the methods used to estimate a property of a population on the basis of a sample. There are two variables/attributes involved in statistics, qualitative and quantitative. Qualitative variables are when the characteristics being studied are categorical or nonnumeric. Quantitative variables are when a variable is studied and the study describes how much or how many. There are four levels...
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...English author and historian, suggested that one day quantitive reasoning will be as necessary for effective citizenship as the ability to read”. This author was ahead of his times because it affected all the aspects of life, business and personal. Statistics is the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making a more effective decision. We use statistics everyday of our lives from the moment we wake up and start making decisions to the moment we put our heads back in the pillow at night to go to sleep. Almost every type of major requires us take a course of statistics. There are three major reasons; the first one is because there is numerical information everywhere, second one is that statistical techniques are used to make decisions that affect our daily lives. The third reason is that having the knowledge of statistical methods will help us have a better understanding of how decisions are made and how they affect us. Types and Levels of Statistics The types of statistics are, Descriptive Statistics and Inferential Statistics. Descriptive statistics is the method of organizing, summarizing and presenting the data in an informative way. The text use an example of a presentation of the population of the United States from the 1960’s till the present showing the increase on the population throughout the years. Inferential statistics is the method used to estimate a property of a population on the basis of a sample...
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...Introduction to Statistics 1-1 Review and Preview * Data – are collections of observations, such as measurements, genders, or survey responses. (A single data is a called a datum, a term that does nog see very much use.) * Statistics – is the science of planning studies and experiments; obtaining data; and then organizing, summarizing, presenting, analyzing, and interpreting those data and then drawing conclusion based on them. * Population – is the complete collection of all measurements or data that are being considered. * Census – is the collection of data from every member of the population. * Sample – is a sub-collection of members selected from a population Statistics Cheat Sheet Chapter 2 – Summarizing and Graphing Data Section 2-1: Review and Preview * Characteristics of Data * 1. Center: A representative value that indicates where the middle of the data set is located. * 2. Variation: A measure of the amount that the data values very. * 3. Distribution: The nature or shape of the spread of the data over the range of values (such as bell-shaped). * 4. Outliners: Sample values that lie very far away from the vast majority of the other sample values. * 5. Time: Any change in the characteristics of the data over time. * Study Hint: Blind memorization is not effective in remembering information. To remember the above characteristics of data, it may be helpful to use a memory device (or mnemonic)...
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...Tabular and Graphical Methods Summarizing Qualitative Data Summarizing Quantitative Data Exploratory Data Analysis Crosstabulations and Scatter Diagrams Summarizing Qualitative Data Frequency Distribution Relative Frequency Percent Frequency Distribution Bar Graph Pie Chart Frequency Distribution A frequency distribution is a tabular summary of data showing the frequency (or number) of items in each of several nonoverlapping classes. The objective is to provide insights about the data that cannot be quickly obtained by looking only at the original data. Example: Marada Inn Guests staying at Marada Inn were asked to rate the quality of their accommodations as being excellent, above average, average, below average, or poor. The ratings provided by a sample of 20 guests are shown below. Below Average Average Above Average Above Average Above Average Above Average Above Average Below Average Below Average Average Poor Poor Above Average Excellent Above Average Average Above Average Average Above Average Average Example: Marada Inn Frequency Distribution Rating Frequency Poor 2 Below Average 3 Average 5 Above Average 9 Excellent 1 Total 20 Relative Frequency Distribution The relative frequency of a class is the fraction or proportion of the total number of data items belonging to the class...
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...as to help one make a difficult decision in their personal or professional life. Statistics is also used to help companies promote their merchandise. Have you ever seen a commercial that used numerical information to show viewers that their product is preferred over their competitors’ product? That is just one of the many times one has probably seen statistics used without even realizing it. Statistics is the result of numerical information that is collected, classified, summarized, organized, analyzed, and interpreted. Once the data is collected and compared, one can draw a conclusion otherwise known as the statistic. There are two types of statistical applications in business, descriptive statistics, and inferential statistics. Descriptive statistics uses methods of organizing, summarizing, and presenting data in an informative and convenient form. Inferential statistics uses sample data to make estimates or predictions about a larger set of data (McClave et al. 2011). In business decision-making, statistics is used both internally and externally. Internally, business owners and managers use statistics to help them make important decisions such as wages, merchandise, operating hours, and the future of the company. For example, a company may view statistics between employees earning hourly and salary wages verse employees earning commission wages. The company can use their findings to determine if paying commission wages encourages employees to work harder possibly resulting...
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