Statistics Essay
Project Title: Employee retention at D&Y consulting firm
Section E:
Group 2:Anshul Garg (11FN015)Finance Gokul Sudhakaran(11DM039)Marketing Kaviya .A. (11DM057) Marketing Nikhil Gagrani(11DM089) Marketing Sheth Dharmil Nirupam(11DM147)Marketing Taru(11IB061)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 …show more content…
d) Among all employees whose starting salary is below the median ($37,750), find a 95% confidence interval for the proportion who stay with D&Y for at least 3 years.
e.) Find a 95% confidence interval for the proportion who stay with D&Y for at least 3 years but this time with starting salaries above the median.
f) Find a 95% confidence interval for the difference between these proportions. From this interval, can we conclude that there is a significant difference in the proportions at the 5% level of significance?
2. D&Y wonders whether the percentage of time on the road might influence who stays and who leaves.
a. Among all employees who travel less than the median (54%), find the 95% confidence interval for the proportion who stay with D&Y for at least 3 years.
b. Do the same for the employees that travel more than the median who have stayed beyond 3 years.
c. Then find the 95% confidence interval for the difference between proportions. From this confidence interval, can we conclude that there is a significant difference in the proportions?
3.Find a 95% confidence interval for the mean tenure(in months) of all employees who leave D&Y within 3 years of being Hired. Why is it not possible with the given data to find a confidence interval for the…

Statistics
1121 Words  5 Pagesthe governors were 44, 36, 52, and 40 square feet. The figures for the CEOs were 32, 60, 48, 36 square feet. a. Figure the means and standard deviations for the governors and CEOs. b. Explain, to a person who has never had a course in statistics, what you have done. c. Note the ways in which the means and standard deviations differ, and speculate on the possible meaning of these differences, presuming that they are representative of U.S. governors and large corporations’ CEOs in general…

Statistics in Business
651 Words  3 PagesStatistics in Business Debbie Masterson University of Phoenix Statistics for Decision Making QNT/275 Charlene Dunfee December 13, 2014 Statistics in Business In today’s very competitive and global economic climate, it is ever more important for businesses to have reliable data to predict and plan. Definition of Statistics and Role in DecisionMaking Statistics are the collection, presentation and interpretation of data. Statistics is a branch of mathematics and is a mathematical analysis…

Financial Statistics
3573 Words  15 Pagesmortgage balance. Use a test statistic approach with a = 0.025. (5 marks) Solution 1: a) Determine if the sample size for the test in part b is large enough to warrant approximating the sample proportion’s distribution with a normal distribution. Step 1 nπ = 2500 .75 = 1875>5; 1−π =625>5 b) Use this information to determine if less than 75% of new mortgages had a loan amount at least 5% above the original mortgage balance. Use a test statistic approach with α=0.025…

Use of Descriptive Statistics over Inferential Statistics
652 Words  3 PagesQ1. When would you use descriptive over inferential statistics? Provide a specific scenario and explain your rationale. "Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way such that, for example, patterns might emerge from the data" (Understanding descriptive and inferential statistics, 2012, Laerd). Examples of descriptive statistics include an analysis of central tendency (the position of most members of the group in…

Questions on Statistics
947 Words  4 PagesGenetics website: HYPERLINK "http://www.ndsu.edu/pubweb/~mcclean/plsc431/mendel/mendel4.htm" http://www.ndsu.edu/pubweb/~mcclean/plsc431/mendel/mendel4.htm How would you explain the analysis of variance, assuming that your audience has not had a statistics class before? (75 words) Analysis of variance (ANOVA) is a collection of statistical models that help explain variance in a variable. They explain the variance by dividing a variable into smaller component parts. ANOVAs can be used to compare the…

The Concept of Statistics
578 Words  3 PagesStatistics Statistics is defined as the mathematical science study of collection, organization, analysis as well as interpretation of numerical information from a given set of data (American Statistical Association, 2013). Types of statistics There are basically two types of statistics that are commonly used in science, mathematics and even business; the descriptive statistics and the inferential statistics. Descriptive statistics: this organizes, describes and summarizes information from…

Statistics and Difference
2105 Words  9 Pageschecked. The Null or Alternative Hypothesis will be accepted or rejected on the basis of a statistical analysis, which will be used to analyse the median percentage of damaged cells got from the brick and tile operations. Table 1: Descriptive Statistics of brick and tile operation workers percentage damaged cells Variable  N  N*  Mean  SE Mean  St: Dev.  Minimum  Q1  Median  Q3  Maximum  % Damaged cells of Tile operation  27  0  1.337  0.210  1.090  0.200  0.600…

Statistics 101
1824 Words  8 Pagesrandomly selected, 42% of this random selection out of the total population of restaurants possessed series health code violations. 2. Determine whether the given value is a statistic or a parameter. A. A researcher determines that 42.7% of all downtown office buildings have ventilation problems. Is this a statistic or a parameter; explain your answer. Answer: The identification of 42.7% of all the downtown office building of which possess ventilation problems serves as the population parameter…

Statistics in Business
647 Words  3 PagesStatistics in Business QNT 351 August, 2012 University of Phoenix What are Statistics? Statistics is the science involved in the application of quantitative principles to the collection, description, interpretation, and presentation of numerical data, as well as the meaning of collected data within the realm of business, and is also commonly used for marketing procedures. Statistics generally deals with the main business elements and the planning process of the data that have been collected…

What Is Statistics
1731 Words  7 PagesStatistics can be defined as “ the science that deals with the collection, classification, analysis, and interpretation of numerical facts of data, and that, by use of mathematical theories of probability, imposes order and regularity on aggregates of more or less disparate elements” (Dictionary.com, LLC, 2008). Yet how do we use these specific elements in our everyday working lives? Many don’t realize the extent to which we as a culture base our decisions on statistics. We us them in something…
More about Statistics Essay

Statistics
1121 Words  5 Pages 
Statistics in Business
651 Words  3 Pages 
Financial Statistics
3573 Words  15 Pages 
Use of Descriptive Statistics over Inferential Statistics
652 Words  3 Pages 
Questions on Statistics
947 Words  4 Pages 
The Concept of Statistics
578 Words  3 Pages 
Statistics and Difference
2105 Words  9 Pages 
Statistics 101
1824 Words  8 Pages 
Statistics in Business
647 Words  3 Pages 
What Is Statistics
1731 Words  7 Pages