RESEARCH METHOD AND BUSINESS STATISTICS

Research Method and Business Statistics



Research Method and Business Statistics

Introduction

The meaningful tabulation of data is the one of the first steps that are performed in any statistical study. The data is collected by sampling and summarized in a table, which is called frequency distribution, in which each variable value associated with it certain numbers representing the number of times it has appeared, their ratio with respect to other variable values, etc. Therefore, a frequency distribution of data is divided into classes grouping together with their frequencies and relative percentage (Ott, 2003, 87). Frequency distributions vary depending on whether they correspond to a discrete variable or a continuous variable.

Descriptive statistics holds great importance in different walk of human life. Descriptive statistics is the tabulation of data presentation in graphical. The statistical techniques are applied widely in marketing, accounting, consumer surveys, sports, education, politics and medicines due to the need of decision-making. The purpose of the data in the form of descriptive statistics draw conclusions and make policy (for analysis) solutions, based on available data (Mann, 1995, 23).

Central Tendency Measurement

The objective of a measure of central tendency is to summarize in one number the typical value or the most representative of a result set. Measures of central tendency (mean, median and mode) help you enter, with a unique number, which is typical of a dataset. The mean is the average value of all data of the whole. The median is the middle value when all data have been arranged in numerical order: exactly half of the data lying above the median and half falling below. The mode is the most common value of all. In a normal distribution , mean, median and mode have identical values (Ott, 2003, pp. 87).

Statistics

KPC

KOC

KNPC

KOTC

PIC

KGOC

KUFPEC

KPI

OSSC

KAFCO

ODC

N

Valid

20

20

20

20

20

20

20

20

20

20

20

Missing

0

0

0

0

0

0

0

0

0

0

0

Mean

45.30

323.90

260.15

25.10

29.85

31.30

6.65

4.90

88.55

4.25

.10

Median

44.50

169.00

149.50

25.00

8.50

14.00

2.00

2.00

12.50

2.00

.00

Mode

0

0

0

0

0

0

0

0

0

0

0

Std. Deviation

42.034

402.211

335.725

21.976

37.921

38.841

8.074

6.086

216.330

5.046

.447

Skewness

.326

.997

1.528

.193

1.098

1.186

1.371

1.043

2.846

.979

4.472

Std. Error of Skewness

.512

.512

.512

.512

.512

.512

.512

.512

.512

.512

.512

Kurtosis

-1.451

-.479

1.853

-1.495

.144

.223

1.621

-.146

6.942

-.182

20.000

Std. Error of Kurtosis

.992

.992

.992

.992

.992

.992

.992

.992

.992

.992

.992

Range

118

1208

1186

60

122

116

29

19

750

16

2

Minimum

0

0

0

0

0

0

0

0

0

0

0

Maximum

118

1208

1186

60

122

116

29

19

750

16

2

The above table shows the descriptive statistics of the 10 Kuwaiti Oil Companies. The numbers of the employee are studied according to their organizational grade. There are total 20 grades in these companies. The table shows that the mean value of KOC is highest, which is 323.9, which means the number of employees in KOC in a single grade would be 324, if the employees are divided in all the 20 grades evenly. KNPC and OSSC are ranked second and third respectively according to the highest number of employees in the given country. The table also shows the median value of the company that is the middle value of the number of employees in each of the grade of the organization. For example, if the employees of the company KOC are divided in each of the grade evenly, the median value would be 169 in a single grade. In almost all the companies, there are no employees in the lower grades, due to which the most incurring number is 0.

The standard deviation shows the dispersion of the data that how much the data is deviated from the mean value. The standard deviation shows that the number of employees in different grades is most deviated in KOC, then KNPC and ...