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Business Methods and Analysis

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Five data collection techniques are discussed in the articles from the library's full-text databases, find examples of studies that used two different methods of data collection.

Paragraph 1: Describe the data collection method used in one study.

Paragraph 2: Using the knowledge you gained from the textbook, discuss the pros and cons of the data collection method. (Cite the textbook. The following is the link to the textbook: http://www.coursesmart.com/SR/5647235/9781934920657/I?__hdv=6.8

Paragraph 3: Describe a different data collection method used in another study.

Paragraph 4: Again, using the knowledge you learned from the textbook, discuss the pros and cons of the data collection method. (Cite the textbook)

Please do not use quotes or copy definitions. You will not receive credit for understanding the materials if you use the words of others. Keep in mind that since you did research and you have citations in the body of the post, you must also place a reference list at the end containing the textbook and the articles cited.

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The first study is "Task versus relationship conflict, team performance, and team member satisfaction: A meta-analysis" CKW De Dreu, LR Weingart - Journal of applied psychology, 2003, Vol. 88, No. 4, 741-749. In this study the data collection method is literature search. The literature search was conducted by going through different issues of conflict management, psychology, and organizational behavior journals. Conference proceedings of Society for Industrial and Organizational Psychology, the International Association for Conflict Management, and the Academy of Management meetings were also examined.

The pros of literature search are that that these can be conducted for almost any topic. These are not very costly and large quantity of data ...

Solution Summary

The technique of literature search is explained in a structured manner in this response. The answer includes references used.

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Four multi-part questions

Please see Excel file.

a. Compute the mean and standard deviation for the sample data

b. Using the mean and standard deviation computed in part 9a) as estimates of the mean and standard deviation of salary for the population of benefits managers with an annual salary between $55,000 and $71,000

c. Develop a histogram for the sample data. Compute software provides .97 as the measure of skewness. Does it appear reasonable to assume that the distribution of annual salary can be approximated by a bell-shaped distribution?

d. Assume that the distribution of annul salary is bell-shaped. Using the mean and standard deviation computed in part (a) as estimates of the mean and standard deviation of salary for the population of benefits managers, use the empirical rule to determine the percentage of benefits managers with an annual salary between $55,000 and $71,000. Compare your answer with the value computed in part (b).

e. Do the sample data contain any outliers?

43. This assignment must be done in Excel
New York Stock Exchange (NYSE) Chairman Richard Grasso and NYSE Board of Directors came under fire for the large compensation package being paid to Grasso. When it comes to salary plus bonus, Grasso's $8.5 million out-earned the top executives of all major financial services companies. The data that follow show total annual salary plus bonus paid to the top executives of 14 finacial services companies (the Wall street Journal, September 17, 2003) Data are in millions

Company Salary & Bonus Company Salary&Bonus
Aetna 3.5 Fannie Mae 4.3
AIG 6.0 Federal Home Loan 0.8
Allstate 4.1 Fleet Boston 1.0
American Express 3.8 Freddie Mac 1.2
Chubb 2.1 Mellon Financial 2.0
Cigna 1.0 Merrill Lynch 7.7
Citigroup 1.0 Wells Fargo 8.0

A. What is the median annual salary plus bonus paid to the top executives of the 14 financial service companies?

B. Provide a five-number summary

C. Should Grasso's $8.5 million annual salry plus bonus be considered an outlier for this group of top executives? Explain

D. Show a box plot.

57. A survey of subscribers to Fortuen magazine asked the following question: "How many of the last four issues have you read?" Suppose that the following frequency distribution summarizes 500 responses.

Number Read Frequency
0 15
1 10
2 40
3 85
4 350
_________________________
Total 500

63. Public transportation and the automobile are two methods an employee can use to get to work each day. Sample of times recorded for each method are shown. Times are in minutes.

Public transportation 28 29 32 37 33 25 29 32 41 34
Automobile 29 31 33 32 34 30 31 32 35 33

A. Compute the sample mean time to get to work for each method.

B. Compute the sample standard deviation for each method

C. On the basis of your results from parts (a) and (b), which method of transportation should be preferred? Explain

D. Develop a box plot for each method. Does a comparison of the box plots support your conclusion in part (c)?

***See attached file for full problem description.***

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