(1) Gender (2) Age (3) Department (4) Position (5) Tenure
(6) Overall Job Satisfaction
(7) Intrinsic Job Satisfaction - Satisfaction with the actual performance of the job
(8) Extrinsic Job Satisfaction- Things external to the job, e.g., office location, your work colleagues, your own office (cubicle/hard walled office, etc), etc.
Using this database, compose an email to the head of the American Intellectual Union which discusses the following:
How you would use the concept of probabilities to apply to profiles for hiring more satisfied individuals and other ways that probability is used in business (Use the Business Source Elite Database in the Cybrary, 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:
i. What is the probability that this person will be female?
ii. What is the probability that this person will be between 22 and 49 years old?
iii. 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:
i. What is the probability that this person will be a male in the information technology department?
ii. What is the probability that this person will be an hourly employee whose intrinsic satisfaction is 6 or more?
c ) We think that employees who are 21 years old and younger are "inexperienced" because they haven't worked for that long. We also think that employees who have been with the company for less than 2 years are "inexperienced" because they aren't familiar with how the company does things.
i. If we choose a person at random from this database, what is the probability that this person is "inexperienced"?
ii. If we think that employees who are either 50 or older, or who have more than 5 years with the company are "experienced", then what is the probability that a random person chosen from this database is "experienced"?
iii. Calculate the correlation between age and tenure with the company. Explain your results.
d ) Given that our employee chosen at random is an hourly employee,
i. What is the chance that this person is in administration?
ii. What is the chance that this person is either female or has an extrinsic job satisfaction of 4 or less?
In your email you need to also address other ways that probability is used in business
I am having a lot of trouble and do not understand this at all and I have limited time.© BrainMass Inc. brainmass.com October 16, 2018, 5:02 pm ad1c9bdddf
This solution is provided in 1,733 words in an attached .doc file. It provides answers to each of the questions, and information is given to help the student understand how the problem can be solved.
Honeymoon Destinations Analysis.
To complete this assignment, use to the "Honeymoon Destinations" reading from your studies for this unit, and the Honeymoon Destinations Codebook Excel file and the Honeymoon Destinations Codebook Errata document linked in the Resources. Note that there are three discrepancies between the data in the case codebook from the reading and the data in the Honeymoon Destinations Codebook Excel file. These exceptions are outlined in the Honeymoon Destinations Errata document. Conform to the Excel file from the Resources for the actual data for this assignment.
Suppose that Todd Bobzien and Clayton Rose have engaged you to analyze the data they gathered via their direct-mail survey. The responses of the 91 people who returned the survey are represented in the 54 variables in the Honeymoon Destinations Codebook Excel file. (Refer to the data codebook in the "Honeymoon Destinations" reading for an explanation of what each of the variables appearing in the spreadsheet represents.)
Bobzien and Rose have some ideas that they would like you to investigate:
1.They believe that people with higher incomes would be more likely both to be interested in a video about potential honeymoon destinations, and to be willing to pay more for such videos. They want you to determine what the data indicate about this.
2.They also believe that individuals with higher incomes (in the top half of annual income levels, nationwide) have different interests than those with lower incomes, and they would like to target those with higher incomes. Bobzien and Rose want you to determine what attributes of a video would interest that higher-income group; specifically:
-Which destinations interest them most?
-What characteristics of resorts interest them most?
-How many resorts do they want to see on a video?
3.In the beginning, they need to focus their marketing and distribution to as few channels as possible, and they want to know what the very best channels would be, based on what the data suggests.
4.Clayton believes that the individuals in their target group (those with higher incomes) would be willing to spend at least fifteen dollars on a video, and he wants you to test that hypothesis.
5.Todd is less interested in testing a hypothesis than he is in developing an estimate for what people would be willing to pay. He would like 95% confidence intervals for the average price people would be willing to pay: one for the higher-income group, one for the lower-income group.
6.They both want to know what family member typically does the research about possible honeymoon destinations, and who primarily makes the decision on selecting the destination.
Analyze the 91 survey responses to provide answers to Todd's and Clayton's questions. Write a management report that contains your findings and recommendations.