Project #158591 - Quantitative Analysis

Business Tutors

Subject Business
Due By (Pacific Time) 12/07/2016 12:00 am

I will attach what is done already and you will make the corrections. 

 

  • This is what needs to be done to correct the assignment

 

Thank you for your submission. Although you made some improvement, they did not meet the competency requirements.

For example, for the Excel function part of the assignment, you missed some of the requirements, such as #2,4, and 7. Also,  you did not use the defined name, Annual_Hrs, in the formula to calculate the hourly rate. 

In addition, I did not see your quantitative analysis (questions 1-5). 

You did not complete the assignment and your 3-4 paragraph summary is insufficient. You need to follow steps 1-9 as well. 

 

 

Below is the project instruction that was given to the scholar who didn't follow the instruction was it was intended.   

 

 

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.

 

Step 1: Refresh Your Math, Statistics and Excel Skills

 

Let’s start by thinking about what it means to engage in quantitative processes and the role these skills play in this project.

 

Next, assess your current baseline by refreshing your skills in math, statistics, and Excel. You will choose how much you already know and where you need to concentrate more attention in order to complete this quantitative analysis project.

 

After this refresher, you will create your own spreadsheet based on the template provided in the next step.

 

 

Step 2: Set Up Your Spreadsheet

 

Now that you’ve assessed and refreshed these important skills, you’re ready to begin. First download the Excel template course file and use it to set up your spreadsheet. This step has you set up your basic view in preparation for the use of several tools.

 

  • After you’ve formatted and set up your basic view and saved it with your name, you’re ready to move to the next step and add data.

 Set up Your Spreadsheet

1. Begin opening the spreadsheet.

2. Save as, and re-name it: LASTNAME_Workforce_Composition_Analysis_Semester_Year

3. Format the spreadsheet for Landscape with Narrow Margins.

4. Enter your name, date, and page number in the Footer area of the sheet.

5. Format the entire spreadsheet for Verdana 11 font.

6. The gray box at the top of the spreadsheet indicates what cell formatting to use for each column. Format columns accordingly.

7. Bold the column heading titles.

8. Rename Tab 1: Data.

Note: There are three sections to the spreadsheet on Tab 1, separated by gray bands, titled: Section 1: Data, Section 2: Category Keys and Summary Tables, and Section 3: Data Analysis

Step 3: Add Data

 

With your spreadsheet set up and saved with your last name, you’re ready to add data. In Section 1 on the Data page, complete each column of the spreadsheet to arrive at the desired calculations.

 

Add Data

In Section 1 on the Data page, complete each column of the spreadsheet to arrive at the desired calculations. Use Excel formulas to demonstrate that you can perform the calculations in Excel. Remember, a cell address is the combination of a column and a row. For example, C11 refers to Column C, Row 11 in a spreadsheet.

Reminder: Occasionally in Excel, you will create an unintentional circular reference. This means that within a formula in a cell, you directly or indirectly referred to (back to) the cell. For example, while entering a formula in A3, you enter =A1+A2+A3. This is not correct and will result in an error. Excel allows you to remove or allow these references.

Hint: Another helpful feature in Excel is Paste Special. Mastering this feature allows you to copy and paste all elements of a cell, or just select elements like the formula, the value or the formatting.

"Names" are a way to define cells and ranges in your spreadsheet and can be used in formulas. For review and refresh, see the resources for Create Complex Formulas and Work with Functions.

Ready to Begin?

  1. As a starting point, in cell D9, use Define a Name under the Formulas menu to create the name "Annual_Hrs." When setting up the name, enter the constant =2080 in the box named "Refers to." This is the number most often used in annual salary calculations based on full time, 40 hours per week, 52 weeks per year.

  2. In E11, create a formula that calculates the hourly rate for each employee, by referencing the employee’s salary in Column C, divided by the name you created for the annual hours of 2080. Complete the calculations for the remainder of Column E.

  3. In Column F, calculate the number of years worked for each employee by creating a formula that incorporates cell F9 and demonstrates your understanding of relative and absolute cells in Excel.

  4. In Column I, use an IF statement to flag with a "Yes" any employees who have been employed 10 years or more.

  5. Using the function VLookup, use the Region Key located at F417:G420 to fill in the cells in Column N to identify the region in which the employee is located based on the state listed in Column M. (If this function is new to you – hang in there – this one is worth it!

There are some video resources available that address some common "hard spots" in this Excel assignment. Do not be confused if you see a data set that is different than yours - the principles are the same! Remember, if you have any questions, ask.

 

When you’re ready, move on to the next step, where you will use functions to summarize the data.

 

Step 4: Use Functions to Summarize the Data

 

With your data built, you are now ready to start using some tools to summarize the 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.

 

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

 

Step 5: Analyze the Workforce

 

You’ve summarized the data, and next, you will employ descriptive or summary statistics to analyze the workforce. Your summary table 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. This is where it gets interesting!

 

  • Your data set in Tab 1 should now be built. Next, you’ll create Tab 2: Excel Summary Stats.

 

Step 6: Use the Analysis Toolpak

 

With your data set built, you will now use the Analysis Toolpak to do those same functions. 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.

 

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.

 It is often helpful to view and interpret analytical results when they are presented visually. Graphs and charts help readers digest and interpret information more 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:

  1. Create separate pie charts that show the percentage of employees by a) gender, b) education level, and c) marital status. Explore pie chart formats.

  2. Create separate bar charts that show the a) number of employees by race, and b) the number of employee per state.

  3. Create a line graph for the sales summary provided.

  4. 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-$10,000, $10,999-$20,000, up to $210,000. This involves counting how many for each "salary bucket," creating what is called a frequency distribution table and histogram. Histograms seem hard, but mastering how to visualize the frequency of events is so helpful in analysis!

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 the 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.
  •  

Copy and Sort Data

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.

  1. 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."
  2. 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.
  3. Apply the ability to sort data on each column of the spreadsheet, so that you can sort by employee #, hire date, role, etc.
  4. 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).
  5. Sort the spreadsheet by region.
  6. Employ the subtotal feature to subtotal the salary for each region, with a grand total for the company.
  7. 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.

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

 

 
 

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