Busn311 Unit 2 Ip

Unit 2 luck and Distributions Leah Lopez Ameri flowerpot InterContinental University Abstract Within this email, I go forth cover distinct probabilities within your comp whatever. This information can assistant you to recognize whether or not your employees ar satisfied with their jobs or not. Also within the results of this survey, you leave alone find that your employees are not distributed equally in damage of gender. Memo To AIU From Leah Lopez Date November 13, 2012 Subject persuasion of employees at American happy Union Dear AIU Within this email, I bequeath be providing more or less information from a survey that was given to your employees.This information can help you to meet how satisfied your workers are with their jobs. This will overly help you to assure whether or not you should hire more women and men to even turn up the gender amongst certain departments. Overview of the Data Set The current data located is comprised of 64 psyches who were surveyed, and this is a part of the sample of the population at American Intellectual Union, and these individuals were identified by 5 characteristics gender, age, position (hourly or salaried), tenure, and how they entangle abtaboo job satisfaction on a scale of unrivalled and only(a) to seven.The qualitative variables include gender, department, and position. The quantitative variables include age, tenure, and job satisfaction. Use of Statistics and fortune in the Real World There are several different ways that statistics and probability could be used in the real world. You could break this used in the horse races, the lottery, certain things in the stock market, also in marketing in a tum. The Value of Statistics Every corporation that is lucky exhausts statistics.It does not matter if they are operating a piddling fish store or they are a member of a board for a huge product line, almost every decision make by a corporation is based on statistics. Averages, means and medians a re a part of a byplays everyday life. Whether it is a graph, a data set, a correlation, or a bias, there is near sort of tool that will make sure your company is successful (Ayres, 2009). Data sets are one of the easiest statistical devices for bloodlinees and one that you will likely exhaust daily without realizing it.When a individual is reading over his/her coin bank statements, and taking care of daily business, they are more than likely vent over a data set. When you pick up the morning report card and look at how your companys stock is acting, you are looking at figures gleaned from a data set. When using the words average, mean or deviation, youre describing statistical tools that are currently being exhausted in your business (Ayres, 2009). Charts arent scantily a pretty picture of an aspect of your business they are a visual representation of a data set.Whether you are looking at a bar chart of sales or a pie chart of company profits, these snapshots can tell you w here your business is performing well and where it is performing poorly. From bank balances to employee compensation, charts and graphs can give you a visual picture of any part of your company which deals with data (Ayres, 2009). Correlations are where one event causes another. For example, you whitethorn notice that customers who buy a certain type of product are more likely to purchase another type of product.However, just because you judge one event is causing another doesnt necessarily make it confessedly it could be a coincidence. Correlation analysis allows you to figure out whether one event is causative or not. A knowledge of correlations can be invaluable in planning sales and marketing campaigns (Ayres, 2009). Every business uses or produces some kind of statement or resolution however, these may not endlessly come out to be reliable. Errors may be present in the data collection, different sources do not always progress to the same information and there also could b e mistakes in he calculations. Bias is when statistical results are different from the real or true value. A knowledge of bias will help you to understand which results are worth using for your business (Ayres, 2009). Distributions A distribution elude can keep all of this information (numbers, row data) handy. A person can look, and say, oh, the participants in this survey were 75% male, or 25 % female. The managers can witness the information and not just the raw data.Then complete the pastime distribution tables. Please pay attention to whether you should present the results in equipment casualty of percentages or simple counts. Distribution of Individuals by sex activity Gender circumstances Females 50% Males 50% Tenure with Company Distribution by Gender Please note that you do NOT have to convert these into percentages. You may leave them in a count format. Under 2 age 2-5 Years Over 5 days Male 8 11 13 Female 10 3 19 Percentage of the Survey Particip ants in Each Department Department Percentage Information engineering 34% Human Resources 25% Administration 41% Sample plastered for foreign Value by Gender Gender Mean Extrinsic Value Male 5. 32 Female 5. 36 Probabilities The probabilities that will be calculated here are that an individual will be amid the ages of 16-21 that an individuals overall job satisfaction will be 5. 2 or higher females operative in military man resources and an individuals intrinsic satisfaction is 5 or more.This information will be useful to AIU because they can look at these probabilities and find out what they need to change to increase job satisfaction, and they can also see whether or not they have an equal amount of females and males working in each department. Classification Count Probability Probability that an individual will be between 18 28% 1621 years of age Probability that an individuals overall job 35 55% satisfaction is 5. or lower Probability that an individual will be a female 5 8% in the human resources department Probability that an individual will be a 12 19% salaried employee whose intrinsic satisfaction value is 5 or more Probabilities in the Business World The theory of probability is rattling the study of non-planned happenings. This type of study, of course, is math-related, and started when people would try to win card and dice games for money. Each and every decision that is made in a business setting has some sort of risk involved with it. With this being said, it seems that in the business setting, probability would be used to handle a businesss financial risks.Even the choices that are made by management have a probability of succeeding or (S. , 2010). Conclusion I rely that you have found all of the information within this survey of use. development the information within this email can help you to improve working conditions for your employees. Sincerely, Leah A. Lopez Senior Board Member References Ayres, I. (2009, August 13). The Value of Statistics. Retrieved from Freakonomics http//www. freakonomics. com/2009/08/13/the-value-of-statistics/ S. , E. (2010). How Probability is Used in Business. Retrieved from Reference. com http//www. reference. com/motif/science/how-probability-is-used-in-business