Conduct Quantitative Analysis

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So this assignment is a little bit different. Please see below and let me know if you have any questions.

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you will use mathematical operations and data analysis to solve problems and inform decision making. Your final assignment will be the creation of a comprehensive Excel workbook with supporting charts and graphs and a short analysis of the data.

This project will enable you to refresh and refine your skills in math and statistics before you tackle a real-world data set using Excel to analyze and display the data.

Quantitative reasoning uses a process similar to the qualitative research process in that you will first identify an issue or problem and then use mathematical formulas or an analytic tool to derive a solution. You will construct graphs, charts, and tables to display data and inform analysis and interpretation. You will evaluate the results of the information, draw analyses and validate them by applying them to the issue or problem.

This project will enable you to see the connection between data and how the use of quantitative analysis of that data informs solutions to practical problems with potential impact on your organization or industry.

There are 10 steps that lead you through this project. Each step should take about two hours to complete. Begin by watching the video above, which introduces the project as it might occur in the workplace, then continue with Step 1: Refresh Your Math, Statistics, and Excel Skills.

Competencies

Your work will be evaluated using the competencies listed below.

1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.
1.2: Develop coherent paragraphs or points so that each is internally unified and so that each functions as part of the whole document or presentation.
1.4: Tailor communications to the audience.
1.5: Use sentence structure appropriate to the task, message and audience.
1.6: Follow conventions of Standard Written English.
3.1: Identify numerical or mathematical information that is relevant in a problem or situation.
3.2: Employ mathematical or statistical operations and data analysis techniques to arrive at a correct or optimal solution.
3.3: Analyze mathematical or statistical information, or the results of quantitative inquiry and manipulation of data.
3.4: Employ software applications and analytic tools to analyze, visualize, and present data to inform decision-making.

Please note that I have already completed up to step for. I believe the only part that is not completed for step 4 is to calculate the percentages.

Please see below steps starting from 4 thru 10.

Step 4: Use Functions to Summarize the Data

With your data built, you are now ready to start using some tools to summarize data, using Countif and the Sum function to do the math. In this step, you’ll begin to see patterns in the data and the story of the workforce.

Take a breather here if you need it. You should strive to work through the first four steps this week. Check in with your instructor.

With this step complete, you’re ready to begin your analysis.

You are now ready to move into Section 2 to prepare the data for future analysis, to include some simple statistical analyses and charts and graphs to present the data. To start, begin by presenting categories of data in summary tables and counting them, totaling them, and calculating percentages. This basic analysis helps you begin to describe patterns in the data and starts to form the story of the workforce.

Complete each table in Section 2. Use the Countif Function to count each item in each table. Use the Sum Function to total the tables when required. Calculate percentages for each table as required. Format cells appropriately. Remember to make smart use of reference cells in formulas (avoid typing in numbers or text into formulas – point to other cells) and use mixed and fixed cell references to make copying formulas easier/faster. Your supervisor will look for this!

Step 5: Analyze the Workforce

You’ve summarized the data. Next, you will employ descriptive or summary statistics to analyze the workforce. Your summary tables described “how many.” Now you will calculate mean, median, and mode for the categories of data, and derive the deviation, variance, and dispersion, and distribution.

You will be working in section 3 of the Data tab in the spreadsheet to complete the descriptive statistics for the five categories (Salary, Hourly Rate, Years of Service, Education, and Age). Using Excel formulas, complete the table.

After you have used Excel formulas to find this information, you will next use the Toolpak to find your summary statistics.

Descriptive or Summary Statistics

In this section, you will expand your analysis by employing descriptive statistics or summary statistics to further describe characteristics of the workforce. Your summary table described “how many” and also offered proportions in relation to the entire workforce, but through this analysis, you can describe much more for the following variables: salary, hourly rate, years of service, education, and age.

You will be calculating:

mean, median, mode – average, middle, and most frequent data points in a set.

standard deviation – how spread out individual data points are from the mean. If data points vary greatly, the result is a higher standard deviation and vice versa. It is referred to as a “measure of dispersion” calculated as the square root of the variance. (Note: when calculating manually in Excel, you might see a slight difference between the result you get manually and the result you get using the Analysis Toolpak, depending on whether your version of Excel requires you to use the function DSTDEV or STDEV.S).

variance – the average squared distance between the mean and each data value. It is also a measure of dispersion, which is used to calculate the standard deviation. It is always nonnegative because the calculated squares are positive or zero. A small variance means that the data points are very close to the mean and to each other; thus, a high variance tells us that the data points are very spread out from the mean and from each other.

range – the difference between the highest (MAX) and lowest (MIN) values in a data set.

skewness and kurtosis – numerical measures to describe the shape of a data set and how close it is to a normal distribution. Skewness describes how symmetrical the data is around the mean. Kurtosis describes height and sharpness of the central peak (its peakedness or flatness) in comparison to a normal curve.

In this step, you will use Excel formulas to find information about the five variables Salary, Hrly rate, Yrs of Svc, Education, and Age. Remember that Excel recognizes the = sign as the start of a formula and will suggest some formulas. We’ve suggested some formulas to get you going. You can also look for help by selecting Formulas on the toolbar.

 

Used with permission from Microsoft

Remember that you must tell Excel what you want to do and where the data is. So, to compute the mean of the salary of the personnel in this company, you will create a formula = average (data range). The data for salary starts on D11 (see below) and ends on D382. This is the data range for this column. You will repeat these steps for all columns and functions.

 

Step 6: Use the Analysis Toolpak

Your data set is now built. Now, you will use the same functions to perform the Descriptive Analysis Using the Analysis Toolpak. This is a handy feature to know. Remember that there may be some minor differences in the answers depending on the version.

You should now have Tab 2 complete: Excel Summary Stats. Next, you’ll create charts and a histogram for Tabs 3 and 4.

Descriptive Analysis Using the Analysis Toolpak (CBR 600) The steps you just followed enabled you to calculate descriptive statistics using individual Excel functions. Did you know that you can generate the same descriptive statistics in one easy step? 1. First, make sure you have enabled the data analysis toolpak feature. When you completed that successfully, you will see the words “Data Analysis” or an icon on the top right on the Data functions. Select that and then choose “Descriptive Statistics” from the list. 2. The next step will be to provide the input and output. Since you want to have statistics for all the selected categories, you will provide the location of the data on the spreadsheet in the input box. o Provide the inclusive cells for the five categories by typing in the field, or capture the columns with your mouse and the field will show in the input range. o Check the labels box so you have titles for the categories. Then select “New Worksheet Ply.” Your output will be now be in a new sheet on your tab. 3. Label your new sheet Summary Stats and format the columns for readability. 4. Compare your calculations using the data analysis feature to the results you obtained in the previous step, when you calculated the results manually with individual functions. You should not have a large disparity. This tool is handy for quick computations, and you will use it again to create your histogram in Step 7.

Step 7: Create Charts and a Histogram

Where would we be without the ability to view data in charts? It is sometimes easier to grasp context of data if we can see it captured in an image. In this step, you will work with data to create charts, adding a tab for charts, and another for a histogram.

In this step, you will build Tab 3: Graphs—Charts and Tab 4: Histogram. After you complete these tabs, you’ll be ready to sort the data.

Work with Data to Create Charts

It is often helpful to view and interpret analytical results when they are presented visually. Graphs and charts help readers digest and interpret information quickly, consistent with the familiar adage “a picture is worth a thousand words.” Let’s see what we can see in your data analysis.

Create the following graphs in your workbook on a separate tab named Graphs_Charts:

Create separate pie charts that show percentages of employees by (1) gender, (2) education level, and (3) marital status. Explore pie chart formats.

Create separate bar charts that show the (1) number of employees by race and (2) the number of employee per state.

Create a line graph for the sales summary provided.

Create a histogram that shows the number of employees in incremental salary ranges of $10,000. Here, you want to show how many employees are making $0–$20,000; $20,001–$30,000; $30,001–$40,000; and so forth, up to the highest salary range. This involves counting how many employees are in each “salary bucket” to create a frequency distribution table and histogram. Histograms seem hard, but mastering how to visualize the frequency of events is helpful for analysis.

Used with permission from Microsoft.

Note: Your Excel spreadsheet template has the upper limit and labels already identified. Complete the table and histogram by engaging the Data Analysis Toolpak. Place the output on a new worksheet and label it Histogram.

Step 8: Copy and Sort the Data

You’ve accomplished a lot with your data set, summary stats, charts, and histograms. Another skill you’ll need to be able to do is sort data in an Excel worksheet for reporting purposes. You’ll copy and sort data. This is a good skill that applies to any Excel application.

In this step, you will create Tab 5: Sorted Data. When you’re finished, you’ll be ready to conduct your quantitative analysis.

See below for example of sorted spreadsheet.

 

Copy the Data so That You Can Learn How to Sort It

Many times we want to sort data on an Excel worksheet for reporting purposes. Let’s see what other perspectives the functions of sorting and subtotaling yield.

Begin by following the steps in the “How to Copy Excel 2010 Sheet to Another Sheet” provided below. This will allow you to retain your work for Steps 2 through 7. Place the sheet at the end of the workbook and title the tab “Sorted Data.”
Delete all rows containing Section 2 and Section 3 work. Be sure to leave the section in cells F417:I422, as this section is referenced for the Vlookup function populating the region; otherwise, you will get a #N/A or #REF! Error in the column for region.
Apply the ability to sort data on each column of the spreadsheet, so that you can sort by employee #, hire date, role, etc.
Experiment with the filter funnel, sorting the data by various columns. For example, try sorting by employee number from smallest to largest. Try sorting by role in ascending order (A-Z).
Sort the spreadsheet by region.
Employ the subtotal feature to subtotal the salary for each region, with a grand total for the company.
Format the entire spreadsheet to print, so that the columns fit on the pages, and Row 1 repeats on each page.
Step 9: Conduct Quantitative Analysis

In this step, your hard work bears fruit. What does it all mean? Think back to your boss’s reasons for tasking you with this project. Bring your powers of analysis to bear to determine what the data may be telling you. Apply your quantitative reasoning skills by answering the questions provided in the resource and writing a short essay.

After you answer the questions, your short essay should include:

a one-paragraph narrative summary of your findings, describing patterns of interest
an explanation of the potential relevance of such patterns
a description of how you would investigate further to determine if your results could be perceived as good or bad for the company.

You will prepare your responses in your workbook on the tab named QR Analysis. Type in your answers to the questions as well as the final essay in the textbox, and move the QR tab to the first tab position ( to the left of the Data tab) when you have finished.

In the next step, you’ll submit your workbook and analysis.

Step 10: Submit Your Completed Workbook and Analysis

You’re now ready to submit your workbook and analysis. Review the requirements for the final deliverable to be sure you have:

Excel Workbook with Six Tabs

Tab 1: Data—completed data sheet (Steps 1–6 above)
Tab 2: Excel Summary Stats (Step 6)
Tab 3: Graphs—Charts (Step 7)
Tab 4: Histogram (Step 7)
Tab 5: Sorted Data (Step 8)
Quantitative Analysis (Step 9; see detail below and move to first position upon completion.)

Answers to Questions and Short Essay

Prepare your response in this workbook. Create a tab for Quantitative Analysis, create a text box, and paste your answers to the questions and your essay in it. Move the Quantitative Analysis tab to the first tab position.

Make sure the following tabs are included in your final workbook:

Quantitative Analysis
Data
Excel Summary Stats
Graphs–Charts
Histogram
Sorted Data

Format to Be Printed

Format this workbook so that all the spreadsheets can be printed.

Check Your Evaluation Criteria

Before you submit your assignment, review the competencies below, which your instructor will use to evaluate your work. A good practice would be to use each competency as a self-check to confirm you have incorporated all of them. To view the complete grading rubric, click My Tools, select Assignments from the drop-down menu, and then click the project title.

1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.
1.2: Develop coherent paragraphs or points so that each is internally unified and so that each functions as part of the whole document or presentation.
1.4: Tailor communications to the audience.
1.5: Use sentence structure appropriate to the task, message and audience.
1.6: Follow conventions of Standard Written English.
3.1: Identify numerical or mathematical information that is relevant in a problem or situation.
3.2: Employ mathematical or statistical operations and data analysis techniques to arrive at a correct or optimal solution.
3.3: Analyze mathematical or statistical information, or the results of quantitative inquiry and manipulation of data.
3.4: Employ software applications and analytic tools to analyze, visualize, and present data to inform decision-making.

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