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.
When you submit your project, your work will be evaluated using the competencies listed below. You can use the list below to self-check your work before submission.
•1.1: Organize document or presentation clearly in a manner that promotes understanding and meets the requirements of the assignment.
•1.2: Develop coherent paragraphs or points so that each is internally unified and so that each functions as part of the whole document or presentation.
•1.4: Tailor communications to the audience.
•1.5: Use sentence structure appropriate to the task, message and audience.
•1.6: Follow conventions of Standard Written English.
•3.1: Identify numerical or mathematical information that is relevant in a problem or situation.
•3.2: Employ mathematical or statistical operations and data analysis techniques to arrive at a correct or optimal solution.
•3.3: Analyze mathematical or statistical information, or the results of quantitative inquiry and manipulation of data.
•3.4: Employ software applications and analytic tools to analyze, visualize, and present data to inform decision-making.