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Statistics Term Paper

1129 words - 5 pages

Term: Winter Quarter 2009

Assignment for Course No: MAT 300

Submitted to: Dr. Robert E. Schwerzel

Abstract

You are a college student trying to reach your goal of obtaining the coveted Bachelor's Degree and you discover that you are required to take a Statistics Class. So, first of all you aren't very good in math and secondly, you don't understand why not only a statistics class but a DESCRIPTIVE STATISTICS class is required for a BA with a concentration in Human Resources. What does "Human Resources" have to do with Statistics? The writer of this term paper will attempt to describe how important descriptive statistics is involved in many aspects of Human Resource ...view middle of the document...

Since the recent financial crisis that our country has witnessed loss of jobs and a decrease in wages has affected most states causing the highest unemployment figures since the 1940's. (http://moss07.shrm.org)
Human resources services a population of employees that generate a vast amount of information in regards to events, data and many forms of statistics among them. Descriptive statistics in Human Resources can serve as an important tool to track headcounts, turnover, attendance, recruiting, along with benefit and compensation trends as it relates to the work force. Some examples would be to calculate the employee population that attended company social events to see which was the most successful or tracking to determine the data behind the turnover rate for "wanted" or "unwanted" terminations for the past 12 months. (http://moss07.shrm.org)
Compliance laws of federal and state requirements also dictate the use of statistics. It is necessary to calculate and find the mean of work related accidents for federal OSHA reports or calculations of statistics in order to complete an Affirmative Action Plan on a yearly basis if you are a federal contractor with contracts over $50,000 and fifty (50) or more employees you must development and implement such programs.
Internal human resource reports, charts, graphs and power point presentations also generate descriptive statistical information. The measures of central tendency which include the Mode, the Median and the Mean to define the characteristics that is present in a typical or most usual group. The data of from an employee survey could be used to measure and evaluate the responses from most important to least important in each category. Statistical information from an employee survey is useful to get a feel for employee morale, job satisfaction and overall opinion of the organization. The data can also be used to find out how the organization stands up against the competition in order to increase employee retention.
Standard Deviations can also be useful to tell us about the distribution of the data values. Graphical descriptions such as charts and graphs a great presentation of descriptive statistics. Visual aids and power point presentations are very valuable when addressing the board of directors, management staff or employees when it is necessary to show compensation trends, work related injuries and accident data or operating expense data. These visual aids can also be valuable in training...

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