MGMT 201 Computer Homework #1 - Basic Statistical Functions

MGMT 201 Computer Homework #1 - Basic Statistical Functions in Excel

Create descriptive statistics for all quantitative variables, including converting categorical data to numerical form where necessary, and calculating coefficient of variation, regional concentration of values, and outliers. Generate grouped frequency distributions with relative and cumulative frequency, and create histograms for the quantitative variables. Make ungrouped frequency distributions for qualitative variables (Major, Class Year, Stat Class) with corresponding histograms. Present all results on a single landscape-oriented Excel page with your name in the upper left corner. All responses must be typed; handwritten notes or corrections will be ignored. Submit by Thursday, Jan 23, at the beginning of class.

Paper For Above instruction

This paper provides a comprehensive analysis of survey data collected from 100 students enrolled in MGMT 201, with the aim of demonstrating proficiency in basic statistical functions in Excel. The task involves generating descriptive statistics for quantitative variables, creating frequency distributions and histograms, and analyzing qualitative variables using ungrouped distributions and visualizations. These activities not only reinforce understanding of descriptive statistics but also demonstrate practical skills in data analysis using Excel software, which is essential for managerial decision-making processes.

Beginning with the quantitative variables, the first step involves calculating descriptive statistics such as mean, median, mode, standard deviation, variance, minimum, maximum, and range. These measures provide insights into the central tendency, dispersion, and distribution shape of variables such as age (in months), distance from high school to university, GPA, work hours, and study hours. For accuracy in analysis, categorical data like "Class Year" must be converted into numerical form; for example, assigning 1 for Freshman, 2 for Sophomore, and so forth. This conversion facilitates the calculation of statistics like mean and standard deviation for the class year variable, enabling quantitative comparison among student cohorts.

To accurately interpret the variability, calculation of the coefficient of variation (CV) is conducted by dividing the standard deviation by the mean for each variable, expressed as a percentage. The CV indicates relative variability, useful for comparing variables with different units or scales. Additionally, the regional concentration of values, termed RCV, identifies the range where most responses cluster—typically within one standard deviation of the mean. Outliers are also scrutinized by identifying responses outside the RCV range or beyond 1.5 times the interquartile range, as these can influence descriptive measures and should be noted separately.

Frequency distributions for age and work hours involve creating grouped data with categories (bins) that organize the responses into intervals. For each bin, frequency, relative frequency (proportion of responses within the bin), and cumulative relative frequency are calculated. Histograms are then produced to visualize the distributions, providing an intuitive understanding of data spread, skewness, and modality. For qualitative variables—such as Major, Class Year, and whether students have taken statistics—ungrouped frequency distributions are assembled. These include counts for each category, as well as relative and cumulative frequencies, which help identify prevalent majors or class levels among the students.

Further, histograms for qualitative variables are created to visually exhibit the distribution of these categories. For instance, a histogram for "Major" reveals the most common fields of study, while one for "Stat Class?" indicates students' prior coursework experience. The final output compiles all descriptive statistics, frequency distributions, and histograms onto a single Excel worksheet formatted in landscape orientation with the student’s name in the top left corner. Clear, accurate presentation and thorough analysis demonstrate mastery of fundamental statistical concepts and Excel skills mandated by the assignment. This comprehensive data analysis provides a foundation for interpreting student demographics and academic behaviors, which are valuable for educational planning and resource allocation.

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