Qnt 351 Week 5 Team Assignment Tracking

Summarizing and Presenting Data Ballard Integrated Managed Services, Inc. (BIMS) performed an instrument of measure by implementing a survey to its employees. The purpose of the employee survey via paycheck submission was to attempt to determine possible reasons for high employee turnover rates. Data analysis is a vital function for companies to accurately interpret survey results and helps companies make the necessary operational adjustments to remain competitive and be successful. This paper will examine six questions from the BIMS survey and analyze the data using descriptive statistics. Suggestions to the BIMS management team to improve their employee turnover rate will be presented based on the data analysis. Question 1 – How well do you enjoy working for BIMS? BIMS staff used numeric codes to describe the nominal, ordinal, and interval data. The data is organized and assessed to evaluate the procedures that were implemented. Appendix A is a BIMS staff coded employee numerical survey. Descriptive statistics were used to present a profile of the data, including averages, mean, median, and mode to describe the group scores or ratings. With the use of ordinal measurements, BIMS staff can use mode, the most common value, or median, the middle ranking, to determine the central tendency. The analysis of Question 1, how well the employee enjoys working for BIMS, reveals a mean of 2.81, a median of 3, and a mode of 2. The sample standard deviation is 1.41 with a sample variance of 1.98. The data indicates that most employees responded with a response of 2, which indicated employees’ enjoyment of their work experiences is below average as illustrated below.

STATISTICS IN BUSINESS 2 Statistics in Business Statistics refers to the use of numerical information in everyday life to calculate facts and figures in limitless circumstances such as, batting averages, market share, and changes in the stock market. In addition, statistics refers to the scientific collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical data. Statistics involves describing data sets and drawing conclusions based on sampling about the data sets (McClave, Benson & Sincich, 2011). Statistics are divided into two areas: descriptive statistics and inferential statistics. Descriptive statistics are procedures used to describe and organize the basic characteristics of the data studied. Descriptive statistics provide simple summaries about the sample group and the measures. This application of statistics is used to present quantitative data in manageable forms such as charts, graphs, or averages. Descriptive statistics differ from inferential statistics in that they

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