Conduct Quantitative Business Analysis Excel Task

Question Description

I’m working on a statistics spreadsheet and need guidance to help me understand better.

This project will help you advise your company’s management on the cost of doing business, how to achieve success in income revenues, and make recommendations on the allocation of salaries across the company. Management will be able to use your analysis to fairly adjust salary anomalies, and also show profitability which might be used for further investments, hiring additional staff, or even employee incentive pay.

Over this two-week period, you will use mathematical operations and data analysis to solve problems and inform decision making. Your final assignment will be the creation of a comprehensive Excel workbook with supporting charts and graphs and a short analysis of the data.

This project will enable you to refresh and refine your skills in math and statistics before you tackle a real-world data set using Excel to analyze and display the data.

Quantitative reasoning uses a process similar to the qualitative research process in that you will first identify an issue or problem and then use mathematical formulas or an analytic tool to derive a solution. You will construct graphs, charts, and tables to display data and inform analysis and interpretation. You will evaluate the results of the information, draw analyses and validate them by applying them to the issue or problem.

This project will enable you to see the connection between data and how the use of quantitative analysis of that data informs solutions to practical problems with potential impact on your organization or industry.

There are 10 steps that will lead you through this project. Each step should take no more than two hours to complete. Begin by watching the video above, which introduces the project as it might occur in the workplace, and then continue with Step 1: Refresh Your Math, Statistics, and Excel Skills.

Step 1: Refresh Your Math, Statistics and Excel Skills

Everyone will begin this project with different background skills in math, statistics and Excel. Let’s start by thinking about what it means to engage in quantitative processes and the role these skills play in this project.

Next, assess your current baseline by refreshing your skills in math, statistics, and Excel. You will choose how much you already know and where you need to concentrate more attention in order to complete this quantitative analysis project.

After this refresher, you will create a spreadsheet based on the template provided in the next step.

If you need help outside the classroom, register for the STAT 689 tutoring room (go to the Project 4 Discussion for registration information) in which you can access tutoring help and other resources to complete this project successfully. Help is free and immediate.

Step 2: Set Up Your Spreadsheet

Now that you’ve assessed and refreshed these important skills, you’re ready to begin. First download the Excel template and use it to set up your spreadsheet. This step has you set up a basic view in preparation for the use of several tools.

After you’ve formatted and set up the basic view and saved it with your name, you’re ready to move to the next step and add data.

Step 3: Add Data

With the spreadsheet set up and saved with your last name, you’re ready to add data. In Section 1 on the Data page, complete each column of the spreadsheet to arrive at the desired calculations.

When you’re ready, move on to the next step, where you will use functions to summarize the data.

Step 4: Use Functions to Summarize the Data

With the data built, you are ready to start using tools to summarize the data, using Countif and the Sum function to do the math. In this step, you’ll begin to see patterns in the data and the story of the workforce.

Take a breather here if you need it. You should strive to work through the first four steps this week. Check in with your instructor.

With this step complete, you’re ready to begin your analysis.

Step 5: Analyze the Workforce

You’ve summarized the data. Next, you will employ descriptive or summary statistics to analyze the workforce. Your summary tables described “how many.” Now you will calculate mean, median, and mode for the categories of data, and derive the deviation, variance, and dispersion, and distribution. This is where it gets interesting.

You will be working in Section 3 of the Data tab in the spreadsheet to complete the descriptive statistics for the five categories (Salary, Hourly Rate, Years of Service, Education, and Age). Using Excel formulas, complete the table.

After you have used Excel formulas to find this information, you will next use the Toolpak to find summary statistics.

Step 6: Use the Analysis Toolpak

Your data set is now built. Now, you will use the same functions to perform the Descriptive Analysis Using the Analysis Toolpak. This is a handy feature to know. Remember that there may be some minor differences in the answers depending on the version.

You should now have Tab 2 complete: Excel Summary Stats. Next, you’ll create charts and a histogram for Tabs 3 and 4.

Step 7: Create Charts and a Histogram

Where would we be without the ability to view data in charts? It is sometimes easier to grasp the context of data if it is captured in an image. In this step, you will work with data to create charts, adding a tab for charts, and another for a histogram.

In this step, you will build Tab 3: Graphs—Charts and Tab 4: Histogram. After you complete these tabs, you’ll be ready to sort the data.

Step 8: Copy and Sort the Data

You’ve accomplished a lot with the data set, summary stats, charts, and histograms. Another skill you’ll need to be able to do is sorting data in an Excel worksheet for reporting purposes. You’ll copy the data so that you can learn how to sort it. This is a good skill that applies to any Excel application.

In this step, you will create Tab 5: Sorted Data. When you’re finished, you’ll be ready to conduct a quantitative analysis.

See below for example of a sorted spreadsheet.

Screenshot of a sorted spreadsheet in Microsoft Excel.

Used with permission from Microsoft.

Step 9: Conduct Quantitative Analysis

In this step, your hard work bears fruit. What does it all mean? Think back to your boss’s reasons for tasking you with this project. Bring your powers of analysis to bear to determine what the data may be telling you. Apply your quantitative reasoning skills to answer five questions that demonstrate your interpretation of the data. The questions are located on the QR Questions_Responses tab in your workbook.
After answering the five questions, finish the project by writing a short essay. The essay will include:
a one-paragraph narrative summary of your findings, describing patterns of interest
an explanation of the potential relevance of such patterns
a description of how you would investigate further to determine if your results could be perceived as good or bad for the company.
Prepare your responses in your workbook on the QR Questions_Responses tab.
Good job! In the next step, you’ll submit the workbook and analysis.

Step 10: Submit Your Completed Workbook and Analysis

You’re now ready to submit the workbook and analysis for review and feedback. Review the requirements for the final deliverable to be sure you have:
Excel Workbook with Six TabsTab 1: Data – completed data sheet (Steps 1–6 above)
Tab 2: Excel Summary Stats (Step 6)
Tab 3: Graphs – Charts (Step 7)
Tab 4: Histogram (Step 7)
Tab 5: Sorted Data (Step 8)
Quantitative Analysis (Step 9; see detail below and move to first position upon completion.)
Quantitative Analysis: Answers to Questions and Short EssayPrepare your response in this workbook. Create a tab for Quantitative Analysis, create a text box, and paste your answers to the questions in it. Move the Quantitative Analysis tab to the first tab position.
Your final workbook tabs:Quantitative Analysis
Data
Excel Summary Stats
Graphs–Charts
Histogram
Sorted Data
Format to Be PrintedFormat this workbook so that all the spreadsheets can be printed.

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Ace Writing Center has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Ace Writing Center, Nowadays, students normally have extremely busy schedules. You will note that some of them have to take on some evening or weekend jobs in order to get some income that can help them to sustain in college or in the university. This can deny them a chance to write all the essays given. Others usually get bombarded with a lot of work by their lecturers. This can still delay such students from working on all their essays. However, some of them usually try to work on all these essays but end up delivering their work late. This can prevent them from graduating since most lecturers are strict on deadlines. If you want to write a business essay, the wise way is to hire an outstanding essay writing service like us, so that you can get the best results. If you are keen, you will note that many companies usually overcharge their customers. Some of them are there only to make money. And in reality, they really don’t care to build a long term commitment with students. You should not choose such companies. You should take your time and choose a reliable company to work with. Ace Writing Center is the ultimate solution for you. We have been offering our writing service for more than 7 years. This is a clear indication that you will get quality essay writing service. We have a wide range of writers who can work on any business essay that you might have. We believe in doing extensive research so that we can provide quality work to all our clients. .

Admissions

Admission and Business Papers

Have you ever had to write an admission essay for college? The majority of students face the same issues when applying to a university or college and many in such situations decide they need professional help to cope with this matter. They get in a situation when the deadline keeps coming closer but lack motivation to start because they are just not sure if their writing skills are strong enough. We have a solution for you! Ace Writing Center is the best admission essay writing service with a large professional team and years of experience in providing high-quality papers to students of all levels and faculties. The mission of our team is to help students make their dreams of entering a good college come true and that’s what we offer!.

Editing

Editing and Proofreading

Sometimes all the words for your paper just flow out of your mind and into your fingers. You type quickly at your keyboard and there they are, your beautiful words right there on the screen. But you have no idea how to polish it up. You may be wishing there was a paper writing service that offered this type of writing service. Look no more! Here at Ace Writing Center, we offer you an editing and proofreading option that you can't find anywhere else..

Coursework

College Essay Writing

In case you are familiar Ace Writing Center, you know the way to distinguish a better company from a cheap one exactly. First of all, poor service website does not have a sufficient support. We think support team is an essential part of success; it has to answer all clients’ questions and be a connecting link between clients and their writers. On our web-service you will get answers about anything you need and your writer will receive all your instructions, assignments and requirements exactly and swiftly. A writing service that we run has got a flexible pricing system that will save you from senseless wastes and many bonus systems that let you sparing money for something important for you.

See all services