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Week 1 Assignment - Statistics for Managers Due Monday at 3Pm CST




We are going to use the Excel Analysis ToolPak function Descriptive Statistics to generate these descriptive statistics. I am going to show you the easiest way to complete this which will give us a lot more information than we need. This means you will need to go through the data output and pick out the figures needed.;We want to pull up the Employee Salary Data Set which is a link to the data we will be using throughout this course. This link is found in the Week 1 Assignment section of Week 1 and in several other places in our course as well. We then want to refer to our step by step instructions found in our textbook. Beginning with chapter 1 and specifically section 1.6 where we first see how to calculate descriptive statistics. If we scroll down to the heading: ?Using the Descriptive Statistics Option?, we get step by step instructions. I honestly cannot explain it any better than the textbook and you will see how easy this is to complete our assignments. Here is what the textbook states;? Click the Data tab, which is the sixth tab at the top of the page.;? Click the Data Analysis window at the extreme right just below the tabs. This will open a small window in the page with a list of options (see video in Figure 1.2). If the Data Analysis option does appear, you can skip the following steps which will show you how to add it into Excel.;? If the "Data Analysis" option doesn't appear at the extreme right, PC users can "add it in." For Excel 2010 the commands for adding in the Data Analysis option are as follows;1. Click the File Tab in the upper left corner of the screen.;2. Click Options toward the bottom of the left column;3. In the Excel Options window that appears, select Add-Ins in the left column. This will produce a list of Inactive Application Add-Ins, one of which is Analysis ToolPak.;4. Click on Analysis ToolPak.;5. Click Go toward the bottom of the View and manage Microsoft Office Add-Ins window.;6. In the window there will now be a check beside Analysis ToolPak. Click OK.;If you already have the Data Analysis option or you now have it installed, this is where we start working on this question from our homework assignment. Click the Data Tab, sixth from right at the top of the page, which will reveal the Data Analysis option at the extreme right.;? Click the Data Analysis option and then in the Data Analysis window that appears in the middle of the page.;? Click on the Descriptive Statistics option and then click OK.;? In the small window labeled Input Range type in the cells for which we wish the values to be included or actually a much easier way is to start with the very first value under ?Salary? which is actually cell number ?B3? and drag your cursor across and down until you have covered all values for each of the variables you need. Do not include the columns that contain non-numerical data because non-numerical data result in you receiving an error. This means you will want to go across to include ?Service? and then down to highlight all of the values for all of those variables.;? Note that the default is that data are Grouped by columns. If the data were listed along a row, we would have to change the default.;? Now we need to decide where we want the output data to appear. I would recommend that you click either ?New Worksheet Ply:? which will create a new worksheet in the current workbook or you can click on ?New Workbook? which will create a whole new workbook which you probably already guessed. Remember that we will be using this same set of data for the entire class, so whichever option will allow you to stay the most organized is fine.;? Finally, click the particular output we wish, which is, Summary Statistics.;? Click OK.;Now, you can review the descriptive statistics that you just created. You will see the Mean, Standard Error, Median, Mode, Standard Deviation, Sample Variance, Kurtosis, Skewness, Range, Minimum, Maximum, Sum, and Count along with each numerical value for each one. Your mean for ?Sal? will be 45 just to give you a check figure. You can then pick out the values that are needed and enter them into the Week 1 worksheet for question #2. See how easy that was?;Our next step is to sort the data by Gen or Gen 1 (into males and females) and repeat what we just did for only the females and then only the males. To sort data in Excel, you simply hit the ?Sort? button at the top of the Excel page. A box will open and you will see under ?Column? a drop box. Choose either ?Gender? or ?Gender1? which will automatically sort the data and group the females separately from the males. I have actually already sorted the data for you into males and females, but I wanted to show you how to do for future reference.;You will need to find the cut-off between males and females. You will want to highlight the data only for females and perform the steps above exactly the same. Then you will do the same for the data for only the males.;Again, these instructions are right from our textbook and I have added very little of my own personal guidance. Our textbook is your best friend in this class.;Question 3 asks us to determine the probability of a randomly selected person being a male in grade E and then also the probability of a randomly selected male being in grade E. For both of these requirements, you are simply going to look at the data and find the percentage for each. This is basic math we learned in grade school. You just have to stop and think about it. This is the same as saying there are 5 red balls along with 5 blue balls in a bag and asking what is the probability of drawing a red ball out of the bag? The answer would be 50% or.50 because there are 10 total balls in the bag and there are 5 red balls, so the probability is 5 out of 10 or 5/10 which gives us 50% or.50 for our answer.;You also have to answer part ?c? of this question. This should be pretty obvious to you after completing requirements ?a? and ?b? of this problem.;I am going to try something different with question 4. I would like for you to look at the following data and try to work backwards from these figures and looking at the examples in our required reading this week to see if you can come up with these same figures on your own;The value that cuts off the top 1/3 salary in each group.;60;42;64;The z score for each value;0.78119;0.21865;0.675053;The normal curve probability of exceeding this score;0.21734;0.41346;0.249821;What is the empirical probability of being at or exceeding this salary value?;0.32;0.32;0.32;The value that cuts off the top 1/3 compa in each group.;1.119;1.119;1.122;The z score for each value;0.13157;0.13157;0.130931;The normal curve probability of exceeding this score;0.44766;0.44766;0.447915;What is the empirical probability of being at or exceeding this compa value?;0.32;0.32;0.32;Question 5 asks us for our conclusions about the data and our results. After reading what is required this week and completing questions 1 through 4, you should be able to come up some conclusions. I am interested in seeing what your thoughts and opinions on the data.


Paper#76795 | Written in 18-Jul-2015

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