This paper contains an email addressed to the chief officer executive officer of American Intellectual Union (AIU). The email briefs the CEO about the distribution and probability of few selected variables based on of AIU’s Job Satisfaction Survey Data
The purpose of this email is to provide you with information concerning the distribution and probabilities selected variables based on the AIU job satisfaction survey data. The email also contains a brief discussion of the use of probability and statistics in real world and organizations.
Overview of the Data Set
The job satisfaction survey data included nine variables which can be categorized as either qualitative or quantitative. The qualitative variables were gender, department and position. On the other hand, the quantitative variables were age, tenure, intrinsic job satisfaction, extrinsic job satisfaction, overall job satisfaction and benefits.
Probability and statistics are used for decision making in real world. Statistical techniques and concepts are used collect, analyze and interpret data. This makes it possible for a researcher to establish trends, patterns and relationships among variables (Johnson & McAllister, 2009). The analyzed data provide evidence for supporting a position which is critical in decision making process. For instance analyzed data from census are used by states to make and support policies and interventions. Probability on the other hand is used to test assumptions and make inferences (Mendenhall, Beaver, & Beaver, 2013). For instance, it used clinical research to test hypothesis concerning the effectiveness of drugs.
The Value of Statistics
Statistics provide organizations with accurate, reliable and helpful information on its operations. This information is used for making decision on whether to employ additional staff, the quantity of stationery to purchase, and when to launch a new product among other decisions that organizations must make. Besides, the statistics is used for forecasting which help in planning (Holden, Peel & Thompson, 1990). Statistics is also used in quality control which enables organizations to maintain standards and minimize losses
The survey sampled equal number of females and males to take part in the survey. In total there were 106 participants of which males and females were 53 each. This information has been captured in the table below in terms of percentages. The analysis of distribution of individuals by gender is important because gives information about the sampling procedures used and the reliability of the data.
Distribution of Individuals by Gender
Tenure with Company Distribution by Gender
The following table shows the distribution of individuals by tenure and gender. It is based simple count. There were differences in number of males and females participants in every age group. The highest number of individuals had served for less than two years.
Percentage of the Survey Participants in Each Department
The following table shows the distribution of individuals by department given in terms of percentages.
Sample Mean for Extrinsic Value by Gender
The following table shows the extrinsic job satisfaction means for males and females. The mean of males was more than the mean of female by 0.1.
This section contains calculation of the probabilities for few variables of interest. These include the probability that an individual will be between 16–21 years of age., the probability that an individual’s overall job satisfaction is 5.2 or lower, the probability that an individual will be a female in the human resources department and the probability that an individual will be a salaried employee whose intrinsic satisfaction value.
Probabilities in the Business World
Probability is largely used in decision making in business world. This is done by getting the number of times an event has occurred and looking at the opportunities that comes with the occurrence of that event. For instance, the probability of failure of business startup can be used to make a decision on whether or not to invest in a particular sector. Besides, business uses probability distributions to estimate sales, revenue and profitability. For instance, a probability distribution for sales may be used by entrepreneur for scenario analysis. The worst scenario case is calculated using values from tail end of the probability distribution while a value in the middle of the distribution is used to compute worst best scenario case. Moreover, probability is used in risk assessment in business. This is done by looking at the loss and return probabilities for investments.
The information provided above is important for decision with regard to actions that must be taken to boost overall, intrinsic and extrinsic job satisfaction. It is also reveals data characteristics that are helpful in making conclusions. For instance, men are more extrinsically satisfied with their jobs than women.
Holden, K., Peel, D., & Thompson, J. L. (1990). Economic forecasting: An introduction. Cambridge [England: Cambridge University Press.
Johnston, W., & McAllister, A. M. (2009). A transition to advanced mathematics: A survey course. Oxford: Oxford University Press.
Mendenhall, W., Beaver, R. J., & Beaver, B. M. (2013). Introduction to probability and statistics. Pacific Grove, Calif: Brooks/Cole.