Quantitative AnalysisQuantitative Reasoning in Action
Short Essay
Salary distribution among the company’s employees is bimodal, with most employees earning a salary of between $31,000 to $40,000 or $51,000 to $60,000. It is bimodal since salary distribution do not follow a single pattern. Average salary for the company’s employees is $53,115, with an average hourly rate of $26. On average, employees serve in the company for a period of 7 years with the average age of employees being 35 years. Based on the analysis, the standard deviation of employees’ salary is 21,711.9 which is a significant deviation from the mean salary which is $53,115. This shows the high rate of disparity between lowest paid employees and highest paid employees. The same is reflected in the standard deviation of hourly rate, which stands at 10, a huge deviation from mean hourly rate of payment which is $26. It is usually important to ensure the deviation from the mean is not so huge since it can lead to organizational conflicts and reduced employee morale due to unfair treatment with regard to salaries and remuneration. Good human resources practices should be adopted to ensure effective formulation of compensations and benefits packages to address the need of each and every employee of the company.
There is also a significantly big range between the highest and lowest paid employee, with the highest employee getting a salary of $200,210, while the lowest only tales home $15,182 per year. The total expenditures in terms of salaries and benefits amounts to $19,758,742. To investigate further to determine whether my results could be perceived as good or bad for the company, I would compare the company’s revenues with its expenditures. This would help in determining the firm’s profitability thus helping in making inferences where it is heading in the right direction or not.
In terms of racial composition of the company’s employees, Caucasians lead with an approximately 90% of the organization’s workforce being Caucasian. African Americans follow which a percentage of 38.25% of the overall employee population. Hispanics and Asians follow respectively with a percentage of 9.96 and 9.56. With regard to gender, male employees dominate the organization’s workforce with approximately 80% of the total employee population being male. The level of education of the company’s employees is slightly below with majority of employees’ highest level of education being high school, accounting for 57% of the total employee population. Employees with Bachelor’s degree account for 25% of the total population and those with Master’s degree account for only 7.26% of the total workforce. I think the company has done less with regard to workforce diversity. Racial composition as well as the composition of gender within the company’s workforce indicate lack of workforce diversity.
The histogram is bimodal. We have two data peaks with frequencies of 76 ...
Quantitative AnalysisQuantitative Reasoning in ActionShort Essay.docx
1. Quantitative AnalysisQuantitative Reasoning in Action
Short Essay
Salary distribution among the company’s employees is
bimodal, with most employees earning a salary of between
$31,000 to $40,000 or $51,000 to $60,000. It is bimodal since
salary distribution do not follow a single pattern. Average
salary for the company’s employees is $53,115, with an average
hourly rate of $26. On average, employees serve in the company
for a period of 7 years with the average age of employees being
35 years. Based on the analysis, the standard deviation of
employees’ salary is 21,711.9 which is a significant deviation
from the mean salary which is $53,115. This shows the high rate
of disparity between lowest paid employees and highest paid
employees. The same is reflected in the standard deviation of
hourly rate, which stands at 10, a huge deviation from mean
hourly rate of payment which is $26. It is usually important to
ensure the deviation from the mean is not so huge since it can
lead to organizational conflicts and reduced employee morale
due to unfair treatment with regard to salaries and
remuneration. Good human resources practices should be
adopted to ensure effective formulation of compensations and
benefits packages to address the need of each and every
employee of the company.
There is also a significantly big range between the
highest and lowest paid employee, with the highest employee
getting a salary of $200,210, while the lowest only tales home
$15,182 per year. The total expenditures in terms of salaries and
benefits amounts to $19,758,742. To investigate further to
determine whether my results could be perceived as good or bad
for the company, I would compare the company’s revenues with
its expenditures. This would help in determining the firm’s
profitability thus helping in making inferences where it is
heading in the right direction or not.
In terms of racial composition of the company’s
2. employees, Caucasians lead with an approximately 90% of the
organization’s workforce being Caucasian. African Americans
follow which a percentage of 38.25% of the overall employee
population. Hispanics and Asians follow respectively with a
percentage of 9.96 and 9.56. With regard to gender, male
employees dominate the organization’s workforce with
approximately 80% of the total employee population being
male. The level of education of the company’s employees is
slightly below with majority of employees’ highest level of
education being high school, accounting for 57% of the total
employee population. Employees with Bachelor’s degree
account for 25% of the total population and those with Master’s
degree account for only 7.26% of the total workforce. I think
the company has done less with regard to workforce diversity.
Racial composition as well as the composition of gender within
the company’s workforce indicate lack of workforce diversity.
The histogram is bimodal. We have two data peaks with
frequencies of 76 and 75 respectively which makes the
histogram bimodal. This implies that there are two different
groups of employees in the organization with two sets of
salaries. Based on the computation, projected percentage growth
for next year would be 64%. The average growth rate with
regard to sales is $2,364,529.41 which means that it is projected
that the company’s sales would grow by a rate of 64% since its
current sales revenue is $3,702,000.
DATAWorkforce Profile AnalysisSection 1: Complete all
Columns in Data SetFormat
for:NumberDateTextCurrencyCurrencyNumberTextNumberNum
berNumberNumberNumberTextTextmm/dd/yyYear
EndingVested Yr12/31/1410Emp #Hire DateRoleSalaryHrly
RateYrs of
SvcEdAgeVestedRaceGenderStatusStateRegion100103/15/99CE
19. HS AA BA/BS Masters 0.577956989247312
0.0994623655913978 0.25 0.0725806451612903
% of empLOYEES BY MARITAL STATUS
%
Married Single 0.682795698924731 0.317204301075269
# OF EMPLOYEES BY RACE
#
African-Am Asian Caucasian Hispanic 96.0 24.0 226.0
25.0
# of employee per state
#
PA IL NE 148.0 123.0 101.0
sales summary
Yr 1999.0 2000.0 2001.0 2002.0 2003.0 2004.0
2005.0 2006.0 2007.0 2008.0 2009.0 2010.0
2011.0 2012.0 2013.0 2014.0 2015.0 Sales
-527000.0 1.215E6 -257000.0 985000.0 1.274E6
1.578E6 2.061E6 1.987E6 2.057E6 2.565E6