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Statistics Essay

1894 words - 8 pages

Project Title: Employee retention at D&Y consulting firm

Section E:
Group 2:Anshul Garg (11FN-015)-Finance
Gokul Sudhakaran(11DM-039)-Marketing
Kaviya .A. (11DM-057)- Marketing
Nikhil Gagrani(11DM-089)- Marketing
Sheth Dharmil Nirupam(11DM-147)-Marketing
Taru(11IB-061)-International Business

Submission Date:- 9th September,2011

1. Case
2. Objective of the problem
3. Methodology used
4. Analysis
5. Excel output
6. Conclusion
7. Managerial implications

Demand for systems ...view middle of the document...

b.) Find the 95% confidence interval for the mean starting salary of all employees who left D&Y within 3 years.  
c.)Find a 95% confidence interval for the difference between the above obtained mean starting salaries. 
d) Among all employees whose starting salary is below the median ($37,750), find a 95% confidence interval for the proportion who stay with D&Y for at least 3 years.   
e.) Find a 95% confidence interval for the proportion who stay with D&Y for at least 3 years but this time with starting salaries above the median.  
f) Find a 95% confidence interval for the difference between these proportions. From this interval, can we conclude that there is a significant difference in the proportions at the 5% level of significance? 

2.   D&Y wonders whether the percentage of time on the road might influence who stays and who leaves.   
a.  Among all employees who travel less than the median (54%), find the 95% confidence interval for the proportion who stay with D&Y for at least 3 years.   
b.  Do the same for the employees that travel more than the median who have stayed beyond 3 years.   
c.  Then find the 95% confidence interval for the difference between proportions.   From this confidence interval, can we conclude that there is a significant difference in the proportions?

3.Find a 95% confidence interval for the mean tenure(in months) of all employees who leave D&Y within 3 years of being Hired. Why is it not possible with the given data to find a confidence interval for the mean tenure at D&Y among all system analysts hired by D&Y. 
4.State University’s students particularly those in its nationally acclaimed CIS area, have traditionally been among the best of D&Y’s recruits.But are they relatively hard to retain?Find one or more relevant confidence intervals to help you make an argument one way or the other.

Software used: Excel
(1)Thus for calculating the confidence interval for t-distribution we have used the following equation: ẋ ± [t * (s/√n)]
In the equation: ẋ- the sample mean
t- confidence coefficient
s-sample standard deviation
n-sample size
(2) For calculating the confidence interval for difference between means of two different samples:-
calculating common standard deviation- sp = √((n1 – 1)s12 + (n2 – 1)s22)/(n1 + n2 – 2))
calculating standard error:- sp√(1/n1) + (1/n2)
confidence interval:- (ẋ1 - ẋ2) ± (t * SE(ẋ1 - ẋ2))
(3) For calculating the confidence interval for proportion of population:-
Formula used-ṕ ± z * √[(ṕ(1 - ṕ))/n]
In the above equation ṕ-sample proportion
z-confidence coefficient

1. Although starting salaries are in a rather fine band, D&Y questions whether starting compensation correlates to retention. As asked in the question, a 95% confidence interval for the mean starting salary of all employees who...

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