CBR600_Project 5e_ Start Here Video Transcript

[MUSIC
PLAYING]

Your manager,
Pat Williams, invites you to meet again to discuss another project. It turns
out that Cybertech’s competitors have been closing in on market share. Pat asks
you to analyze data about the company’s workforce and to prepare an analysis of
its current composition. The report is due in two weeks.

Your
quantitative analysis will be used to advise the company’s management on the
cost of doing business, and how to achieve success and income revenues, as well
as make recommendations on the allocation of salaries across the company. Pat
explains more about the requirements. Pat asks that your report must consider
personnel by organizational roles, salaries, length of service, level of
education, age, race, gender, marital status, and region.

Pat explains
that your analysis will be reviewed to determine how the company’s employee
demographics compare with industry peers and competitors. You learn that you
will present your report to leadership at their quarterly strategic planning
meeting. You know that you’ll need to use your statistical skills and technical
skills to identify and manipulate the data.

You’ll also
need to draw relevant conclusions based on quantitative reasoning. First,
sketch out a plan to review your skills in math, statistics, and Excel. Second,
you’ll need to work through the data to produce supporting charts and graphs.
Third, you’ll need to complete the analysis well before the due date. Time to
get busy.

[MUSIC
PLAYING]

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 your own spreadsheet based
on the template provided in the next step.

If you need help outside the classroom, you can register for the
STAT 689 tutoring room (go to the Project 5 Discussion for registration
information) in which you can access tutoring help and other resources to
enable you to complete this project successfully. Help is free and immediate!

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

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

Set up Your Spreadsheet

1.Begin
opening the spreadsheet.

2.Save
as, and re-name it:LASTNAME_Workforce_Composition_Analysis_Semester_Year

3.Format
the spreadsheet for Landscape with Narrow Margins.

4.Enter
your name, date, and page number in the Footer area of the sheet.

5.Format
the entire spreadsheet for Verdana 11 font.

6.The
gray box at the top of the spreadsheet indicates what cell formatting to use
for eachcolumn. Format columns accordingly.

7.Bold
the column heading titles.

8.Rename Tab 1: Data.

Note: There
are three sections to the spreadsheet on Tab 1, separated by gray bands,
titled: Section 1: Data, Section 2: Category Keys and Summary Tables, and
Section 3: Data Analysis.

With your spreadsheet set up and saved with your last name,
you’re ready toadd
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.

CBR Example for
add data to your spreadsheet

Add Data

In Section 1 on the Data page, complete each column of the
spreadsheet to arrive at the desired calculations. Use Excel formulas to
demonstrate that you can perform the calculations in Excel. Remember, a cell
address is the combination of a column and a row. For example, C11 refers to
Column C, Row 11 in a spreadsheet.

Reminder: Occasionally in Excel, you will create an
unintentional circular reference. This means that within a formula in a cell,
you directly or indirectly referred to (back to) the cell. For example, while
entering a formula in A3, you enter =A1+A2+A3. This is not correct and will
result in an error. Excel allows you to remove or allow these references.

Hint: Another helpful feature in Excel is Paste Special.
Mastering this feature allows you to copy and paste all elements of a cell, or
just select elements like the formula, the value or the formatting.

“Names” are a way to define cells and ranges in your
spreadsheet and can be used in formulas. For review and refresh, see the
resources for Create Complex Formulas and Work with Functions.

There are some video resources available that address some
common “hard spots” in this Excel assignment. Do not be confused if
you see a data set that is different than yours – the principles are the same!
Remember, if you have any questions, ask.

Ready to Begin?

1.
As a starting point, in cell D9, use Define a Name under the
Formulas menu to create the name “Annual_Hrs.” When setting up the
name, enter the constant =2080 in the box named “Refers to.” This is
the number most often used in annual salary calculations based on full time, 40
hours per week, 52 weeks per year.

2.
In E11, create a formula that calculates the hourly rate for
each employee, by referencing the employee’s salary in Column C, divided by the
name you created for the annual hours of 2080. Complete the calculations for
the remainder of Column E.

3.
In Column F, calculate the number of years worked for each
employee by creating a formula that incorporates cell F9 and demonstrates your
understanding of relative and absolute cells in Excel.

4.
In Column I, use an IF statement to flag with a “Yes”
any employees who have been employed 10 years or more.

5.
Using the function VLookup, use the Region Key located
at F417:G420 to fill in the cells in Column N to identify the region in which
the employee is located based on the state listed in Column M. (If this
function is new to you – hang in there – this one is worth it!

With your data built, you are now ready to start using some
tools tosummarize
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.

Summarize the
Data

You are now ready to move into Section 2 to prepare the data for
future analysis, to include some simple statistical analyses and charts and
graphs to present the data. To start, begin by presenting categories of data in
summary tables and counting them, totaling them, and calculating percentages.
This basic analysis helps you begin to describe patterns in the data and starts
to form the story of the workforce.

Complete each table in Section 2. Use the Countif Function to
count each item in each table. Use the Sum Function to total the tables when
required. Calculate percentages for each table as required. Format cells
appropriately. Remember to make smart use of reference cells in formulas (avoid
typing in numbers or text into formulas – point to other cells) and use mixed
and fixed cell references to make copying formulas easier/faster. Your
supervisor will look for this

You’ve summarized the data, and next, you will employ
descriptive or summary statistics to analyze the workforce. Your summary table
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!

Your data set in Tab 1 should now be built. Next, you’ll create
Tab 2: Excel Summary Stats.

Descriptive or
Summary Statistics Introduction

In this section, you will expand your analysis by employing
descriptive statistics or summary statistics to further describe
characteristics of the workforce. Your summary table described “how
many” and also offered proportions in relation to the entire workforce,
but through this analysis, you can describe much more. For each of the
following: salary, hourly rate, years of service, education, and age, calculate
the:

mean, median, mode– average, middle, and most
frequent data points in a set.

standard deviation – how spread out
individual data points are from the mean; if data points vary greatly, the
result is a higher standard deviation and vice versa. It is referred to as a
“measure of dispersion” calculated as the square root of the
variance. (Note: standard deviations – when calculating manually in Excel, you
might see a slight difference between the result you get manually and the
result you get using the Analysis Toolpak, depending on whether your version of
Excel requires you to use the function DSTDEV or STDEV.S).

variance – the average squared distance between
the mean and each data value. It is also a measure of dispersion, which is used
to calculate the standard deviation. It is always nonnegative because the
calculated squares are positive or zero. A small variance means that the data points
are very close to the mean and to each other; thus, a high variance tells us
that the data points are very spread out from the mean and from each other.

range – the difference between the highest
(MAX) and lowest (MIN) values in a data set.

skewness and kurtosis – numerical measures
to describe the shape of a data set and how close it is to a normal
distribution. Skewness describes how symmetrical the data is around the mean.
Kurtosis describes height and sharpness of the central peak (its peakedness or
flatness) in comparison to a normal curve.

With your data set built, you will now use the Analysis Toolpak
to do those same functions. 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.

Use the Analysis Toolpak

The steps you just followed enabled you to
calculate descriptive statistics using individual Excel functions. Did you know
that you can generate the same descriptive statistics in one easy step?

Excel features an add-in to work with
statistics as follows:

1.
First, make sure you
have enabled the data analysis toolpak feature.

2.
Calculate the
statistics for salary, hourly rate, years of service, education level, and age.
Hint: You can perform these calculations in one step by highlighting the
adjacent columns of data in D10:H382. Place the output on a new sheet in the
workbook. Label the tab “Excel Summary Stats.”

3.
Compare your
calculations using the data analysis feature to the results you obtained in the
previous step, when you calculated the results manually with individual
functions. How did you do?

Where would we be without the ability to view data in charts? It
is sometimes easier to grasp context of data if we can see it 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

It is often helpful to view and interpret analytical results
when they are presented visually. Graphs and charts help readers digest and
interpret information more quickly, consistent with the familiar adage “a
picture is worth a thousand words.” Let’s see what we can see in your data
analysis.

Create the following graphs in your workbook on a separate tab
named Graphs_Charts:

1.
Create separate pie charts that show the percentage of employees
by a) gender, b) education level, and c) marital status. Explore pie chart
formats.

2.
Create separate bar charts that show the a) number of employees
by race, and b) the number of employee per state.

3.
Create a line graph for the sales summary provided.

4.
Create a histogram that shows the number of employees in
incremental salary ranges of $10,000. Here, you want to show how many employees
are making 0-$10,000, $10,999-$20,000, up to $210,000. This involves counting
how many for each “salary bucket,” creating what is called a
frequency distribution table and histogram. Histograms seem hard, but mastering
how to visualize the frequency of events is so helpful in analysis!

You’ve accomplished a lot with your data set, summary stats,
charts, and histograms. Another skill you’ll need to be able to do is sort 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 your quantitative analysis.

Copy and Sort Data

Many times we want to sort data on an Excel
worksheet for reporting purposes. Let’s see what other perspectives the
functions of sorting and subtotaling yield.

1.
Begin by following the
steps in the “How to Copy Excel 2010 Sheet to Another Sheet” provided below.
This will allow you to retain your work for Steps 2 through 7. Place the sheet
at the end of the workbook and title the tab “Sorted Data.”

2.
Delete all rows
containing Section 2 and Section 3 work. Be sure to leave the section in cells
F437:I422, as this section is referenced for the Vlookup function populating
the region; otherwise, you will get a #N/A or #REF! Error in the column for
region.

3.
Apply the ability to
sort data on each column of the spreadsheet, so that you can sort by employee
#, hire date, role, etc.

4.
Experiment with the
filter funnel, sorting the data by various columns. For example, try sorting by
employee number from smallest to largest. Try sorting by role in ascending
order (A-Z).

5.
Sort the spreadsheet
by region.

6.
Employ the subtotal
feature to subtotal the salary for each region, with a grand total for the
company.

7.
Format the entire
spreadsheet to print, so that the columns fit on the pages, and Row 1 repeats
on each page.

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 yourquantitative
reasoning skills by answering the
questions provided in the resource and writing a short essay.

After you answer the
questions, your short essay 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 response
in this workbook. Create a tab for Quantitative Analysis, create a text box,
and paste your answers to above questions and your essay in it. Move the tab to
the first tab position.

Good job! In the next
step, you’ll submit your workbook and analysis.

Apply
Quantitative Reasoning

Now
that you have completed your analysis, think about the patterns you’ve seen in
the

workforce.

1. From
the created histogram (Tab 4), it appears that a large share of employees

have a
salary between $90,000 $

130,000.
This may indicate reasonable

promotion
rate for new employees. Is this distribution unimodal or bimodal?

Please
explain.

2. The
line chart, as detailed in your “Graph Charts” Excel spreadsheet (Tab 3),

shows
sales increasing over the years from 1999 to 2014. In 2015, sales slightly

decreased
to under $52,000,000. Investors want to know what the projected

sales
will be in 2017. One method for determining this value is to calculate the

average
annual growth rate per year, based on historical trends. For example, if

sales
were $200 last year and $500 this year, the average annual growth rate

would
be calculated as ($200+$500)/2. Calculate the average annual growth rate

for
1999 – 2015 and projected sales for 2017.

3. The
standard deviation provides insight into the distribution of values around the

mean.
If the standard deviation is small, the more narrow the range between the

lowest
and highest value. That is, values will cluster close to the mean. From your

descriptive
statistics, please describe your standard deviations. What does this tell

you
about the variables?

4. The
company has a keen interest in the educational, race and gender makeup of

its
workforce. Their emphasis is on a diverse, dynamic workforce. From your

‘Graph
Charts’ spreadsheet, please describe your pie chart findings for these

characteristics
of the workforce. Describe how you would determine how the

company
was meeting expectations on these characteristics.

5. The
company is conducting an analysis on how many positions to create to keep

up with
demand. Specifically, it wants to identify a rough estimate of the number

of
positions per job title. From your Excel chart, please identify the mode of the

job
title distribution. Describe your findings.

For
your final assignment, write a short threeto

fourparagraph

summary
of your

analysis.
This is important. While you have done a wonderful job with your analysis, you

can
never assume that the end user will be able to interpret the data the way it
should

be
understood. Supporting narrative is helpful. Never simply provide a “raw data”
dump.

Instead, seek to provide
information!

Step 10: Submit Your Completed Workbook and Analysis

You’re now ready to
submit your workbook and analysis for review and feedback. Review the
requirements for the final deliverable to be sure you have:

1. Excel Workbook with
Six Tabs

o Tab 1: Data – completed data sheet (Steps 1–6
above)

o Tab 2: Excel Summary Stats (Step 6)

o Tab 3: Graphs – Charts (Step 7)

o Tab 4: Histogram (Step 7)

o Tab 5: Sorted Data (Step 8)

o Quantitative Analysis (Step 9; see detail
below and move to first position upon completion.)

2. Quantitative Analysis:
Answers to Questions and Short Essay

Prepare 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:

o Quantitative Analysis

o Data

o Excel Summary Stats

o Graphs–Charts

o Histogram

o Sorted Data

3. Format to Be Printed

Format this workbook so that all the spreadsheets can be
printed.