I need help getting going and deciding which formula is most appropriate.
It is about a company in 1991 they earned $264,000 annually.
In 1992, they hired a new CEO who reorganized the company. He raised more than $20 million in private equity.
60 Employees currently work for the company and sales have risen $15 million annually.
In 1997, 35% of the company revenue came from overseas business.
In 1998 it was expected that 60% revenue would be from overseas business.
The problem is this:
Suppose the company officers want to ascertain employee satisfaction with the company. They randomly sample nine employees and ask them to complete a satisfaction survey under the supervision of an independent testing company. As part of this survey employees are asked to respond to questions on a 5-point scale where 1 is the lowest and 5 is the highest satisfaction. Assume the data are at least interval and that the overall responses on questions are normally distributed. The questions and the results of the survey are shown here.
Question Mean Standard Deviation
Are you treated fairly as an employee? 3.79 .86
Has the company given you the training you need to do the job adequately? 2.74 1.27
Does management seriously consider your input in making decisions about the production? 4.18 .63
Is your physical work environment acceptable? 3.34 .81
Is the compensation for your work adequate and fair? 3.95 .21
Analyze the results using techniques from this chapter
I need help knowing if there is even math to solve or if we just look at the number?
The variables I have are:
Mean Standard Deviation and that there are 60 employees and they only asked 9 of them.
I have formulas that have been presented in the chapter titled Estimation for Single Populations
I am thinking I need to find formula X +/- Z (Standard Deviation)/Square Root of N)
But I do not have a confidence level or anything of that nature.
It is about a company in 1991 they earned $264,000 annually.
In 1992, they hired a new CEO who reorganized the company. He raised more than $20 million in private equity.
60 Employees currently work for the company and sales have risen $15 million annually.
In 1997, 35% of the company revenue came from overseas business.
In 1998 it was expected that 60% revenue would be from overseas business.
The problem is this:
Suppose the company officers want to ascertain employee satisfaction with the company. They randomly sample nine employees and ask them to complete a satisfaction survey under the supervision of an independent testing company. As part of this survey employees are asked to respond to questions on a 5-point scale where 1 is the lowest and 5 is the highest satisfaction. Assume the data are at least interval and that the overall responses on questions are normally distributed. The questions and the results of the survey are shown here.
Question Mean Standard Deviation
Are you treated fairly as an employee? 3.79 .86
Has the company given you the training you need to do the job adequately? 2.74 1.27
Does management seriously consider your input in making decisions about the production? 4.18 .63
Is your physical work environment acceptable? 3.34 .81
Is the compensation for your work adequate and fair? 3.95 .21
Analyze the results using techniques from this chapter
I need help knowing if there is even math to solve or if we just look at the number?
The variables I have are:
Mean Standard Deviation and that there are 60 employees and they only asked 9 of them.
I have formulas that have been presented in the chapter titled Estimation for Single Populations
I am thinking I need to find formula X +/- Z (Standard Deviation)/Square Root of N)
But I do not have a confidence level or anything of that nature.