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Task-1

A manager for Marko Manufacturing, Inc. has recently been hearing some
complaints that women are being paid less than men for the same type of
work in one of their manufacturing plants. The box-plots shown below
represent the annual salaries for all salaried workers in that facility (40 men
and 34 women).

20000

40000

60000

80000

Answer the following:

1.) Would you conclude that there is a difference between the salaries of
women and men in this plant? Justify your answer.

2.) How large must a persons salary should be to qualify as an outlier on


the high side? How many outliers are there in these data?

3.) What can you say about the shape of the distributions given the boxplots above?

Task-2
NATIONAL HEALTH CARE ASSOCIATION
The National Health Care Association is concerned about the shortage
of nurses the health care profession is projecting for the future. To learn the
current degree of job satisfaction among the nurses, the association has
sponsored a study of hospital nurses throughout the country. As part of this
study, a sample of 50 nurses was asked to indicate their degree of
satisfaction in their work, their pay, and their opportunities for promotion.
Each of the three aspects of satisfaction was measured on a scale from 0 to
100, with larger values indicating higher degrees of satisfaction. The data
collected also showed the type of hospital employing the nurses. The types
of hospitals were private (P), Veterans Administration (VA), and University
(U).
Managerial Report
Use methods of descriptive statistics to summarize the data. Present the
summaries that will be beneficial in communicating the results to others.
Discuss your findings. Specifically, comment on the following questions.
1. On the basis of the entire data set and the three job satisfaction
variables, what aspect of the job is most satisfying for the nurses?
What appears to be the least satisfying? In what area(s), if any, do
you feel improvements should be made? Discuss.
2. On the basis of descriptive measures of variability, what measure of
job satisfaction appears to generate the greatest difference of
opinion among the nurses? Explain.
3. What can be learned about the types of hospitals? Does any
particular type of hospital seem to have better levels of job
satisfaction than the other types? Do your results suggest any
recommendations for learning about and/or improving job
satisfaction? Discuss.
4. What additional descriptive statistics and insights can you use to
learn about and possibly improve job satisfaction?

Task-3
Employee Empowerment at Armco Company

The Arm. Co Company, a large manufacturer of automobile parts, has several


plants in United States. For years, Arm. Co employees have complained that
their suggestions for improvement in the manufacturing process are ignored
by upper management in the spirit of employee empowerment, Arm. Co
management at the Midwest plant decided to initiate a number of policies to
respond to employee suggestions.
A mail box was placed in a central location, and employees were encouraged
to drop suggestions into this box. There was a great deal of employee
enthusiasm at the Midwest plant shortly after the new policies were
implemented, but the question was whether life would revert to normal and
the enthusiasm would dampen with time.
To check this Arm. Co initiated this policy in all five of its plants-in the South,
Midwest, Northwest, Southwest and West and several months later it wants
to see whether the policy is being perceived equally by employees across the
plants. Random sample of employees at the five plants have been asked to
rate the success of the empowerment policy on a scale of 1 to 10, 10 being
the most favorable rating.

Task-4
Find the daily stock price of Wal-Mart for the last three months. (A good
source for the data is http://moneycentral.msn.com. You can ask for the
three-month chart and export the data to a spreadsheet.)
a. Calculate the mean and the standard deviation of the stock prices.
b. Get the corresponding data for Kmart and calculate the mean and
the standard deviation.
c. Calculate the CV of Wal-Mart and Kmart stock prices.
d. If the CV of the daily stock prices is taken as an indicator of risk of
the stock, how do Wal-Mart and Kmart stocks compare in terms of risk?
e. Get the corresponding data of the Dow Jones Industrial Average
(DJIA) and compute its CV. How do Wal-Mart and Kmart stocks compare
with the DJIA in terms of risk?
f. Suppose you bought 100 shares of Wal-Mart stock three months ago
and held it. What are the mean and the standard deviation of the daily
market price of your holding for the three months?

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