Busn311 Unit 2 Ip

Unit 2 fortune and Distributions Leah Lopez Ameri stern InterContinental University Abstract Within this email, I go forth crosscut different probabilities within your attach to. This culture bathroom help you to actualize whether or not your employees be satisfied with their jobs or not. Also within the results of this survey, you will find that your employees argon not distributed equally in terms of sexuality. memorandum To AIU From Leah Lopez Date November 13, 2012 Subject Survey of employees at American intellectual summation Dear AIU Within this email, I will be providing some entropy from a survey that was given to your employees.This information can help you to understand how satisfied your workers are with their jobs. This will also help you to understand whether or not you should hire to a greater extent(prenominal) women and men to even out the gender amongst certain de distinguishments. Overview of the info Set The current information set is comprised of 64 individualists 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, bestride, position (hourly or salaried), tenure, and how they felt near job satisfaction on a scale of 1 to seven.The soft variables include gender, incision, and position. The quantitative variables include age, tenure, and job satisfaction. Use of Statistics and Probability in the Real World There are several different shipway that statistics and probability could be apply in the real world. You could intoxicate this used in the horse races, the lottery, certain things in the stock market, also in marketing in a corporation. The valuate of Statistics Every corporation that is boffo polish offs statistics.It does not matter if they are operating a small weight store or they are a member of a jump on for a huge pipeline, almost every decision made by a corporation is based on statisti cs. Averages, means and medians are a part of a businesss everyday life. Whether it is a chart, a data set, a correlation, or a bias, there is some signifier of tool that will make sure your company is successful (Ayres, 2009). Data sets are one of the easiest statistical devices for businesses and one that you will probably exhaust daily without realizing it.When a person is reading everyplace his/her banking concern statements, and victorious care of daily business, they are more than likely going over a data set. When you pick up the morning paper and come across at how your companys stock is performing, 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 just a pretty picture of an aspect of your business they are a optic re compriseation of a data set.Whether you are looking at a bar chart of sales or a pie cha rt of company profits, these snapshots can tell you where 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 consequence causes another. For example, you may differentiate that customers who buy a certain type of product are more likely to purchase another type of product.However, just because you think one event is causing another doesnt necessarily make it align 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 priceless in planning sales and marketing campaigns (Ayres, 2009). Every business uses or produces some kind of statement or resolution however, these may not always come out to be reliable. Errors may be present in the data collection, different sources do not always ca-ca th e same information and there also could be mistakes in he calculations. Bias is when statistical results are different from the real &8212 or true &8212 value. A knowledge of bias will help you to understand which results are worth using for your business (Ayres, 2009). Distributions A dispersal table 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 see the information and not just the raw data.Then complete the following distribution tables. revel pay attention to whether you should present the results in terms of percentages or simple counts. Distribution of Individuals by Gender Gender Percentage Females 50% Males 50% Tenure with Company Distribution by Gender Please note that you do NOT present to convert these into percentages. You may distribute them in a count format. Under 2 years 2-5 age Over 5 years Male 8 11 13 Female 10 3 19 Perc entage of the Survey Participants in separately Department Department Percentage Information Technology 34% Human Resources 25% Administration 41% Sample Mean for foreign Value by Gender Gender Mean Extrinsic Value Male 5. 32 Female 5. 36 Probabilities The probabilities that will be work out here are that an individual will be between the ages of 16-21 that an individuals overall job satisfaction will be 5. 2 or higher females working in human 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 command 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 individually 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 Prob ability 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 actually the take in 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 prospect 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 hope that you have found all of the information within this survey of use. Using the information within this email can help you to improve working conditions for your employees. Sincerely, Leah A. Lopez elderly Board Memb er 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 use in Business. Retrieved from Reference. com http//www. reference. com/motif/science/how-probability-is-used-in-business