(See attached files for full problem description)
Using our data set from Unit 1, compose an email to the head of the American Intellectual Union which discusses the following:
1. How you would use the concept of probabilities to apply to profiles for hiring more satisfied individuals? Job Satisfaction is an attitude about one's job. It may be measured globally or via facets (e.g., intrinsic / extrinsic). However, job satisfaction is a post hoc phenomenon. Using "profiles" developed via the DataSet to predict job satisfaction is not feasible. Further, the only variables you could use would be gender, age, department, position. To say, for example, that salaried females between 22-49 years of age and working in IT are more likely to be satisfied says noting about potential hires. It probably says more about the way the department is managed and the resources available to accomplish tasks. Finally, unless job satisfaction is a performance criterion, it would most likely be illegal to use this concept.
2. Other ways that probability is used in business (Feel free to use the Business Source Elite Database in the Cybrary as a resource to research how probability is used in business).
Begin your email to AIU by first providing an overview of the database, i.e., a story.
Include the following pieces of information.
a) What is the gender distribution (%females and %males)?
b) What is the "tenure with company" distribution by gender?
c) What % of the survey participants are in each department?
d) What is the mean overall satisfaction by gender?
Keeping in mind that in this email you are going to try to apply probabilities to profile hiring more satisfied individuals, discuss the following in your email.
a) If we choose a person at random from this database: - What is the probability that this person will be female?
If we choose a person at random from this database: -What is the probability that this person will be between 22 and 49 years old?
If we choose a person at random from this database: -What is the probability that their overall job satisfaction is 4.7 or lower?
b) If we choose a person at random from this database: -What is the probability that this person will be a male in the information technology department?
If we choose a person at random from this database: -What is the probability that this person will be an hourly employee whose intrinsic satisfaction is 6 or more?
c) Calculate the correlation between age and tenure with the company. Explain your results.
In your email you need to also address other ways that probability is used in business.
This solution contains a detailed explanation of computing probabilities based on a given database. It is a direct application of probability theory to the real-world business problem.