Step 1: Set Up Your Spreadsheet Now that you’ve assessed and refreshed these important skills, you’re ready to begin. First download the Excel template and use it to set up your spreadsheet. This step...

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Conduct Quantitative Analysis




Step 1: Set Up Your Spreadsheet Now that you’ve assessed and refreshed these important skills, you’re ready to begin. First download the Excel template and use it to set up your spreadsheet. This step has you set up a basic view in preparation for the use of several tools. After you’ve formatted and set up the basic view and saved it with your name, you’re ready to move to the next step and add data. Step 2: Add Data With the spreadsheet set up and saved with your last name, you're ready to add 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. 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. Ready to Begin? 1. To calculate hourly rate, you will use the annual hourly rate already computed in Excel, which is 2080. This is the number most often used in annual salary calculations based on full time, 40 hours per week, 52 weeks per year. In E11 (or the first cell in the Hrly Rate column), create a formula that calculates the hourly rate for each employee by referencing the employee’s salary in Column D, divided by the value of annual hours, 2080. To do this, you will create a simple formula: =D11/2080. Complete the calculations for the remainder of Column E. If you don’t want to do this cell by cell, you can create a new formula that will let you use that same formula all the way to the end of the column. It would look like this: =$D$11:$D$382/2080. 2. In Column F, calculate the number of years worked for each employee by creating a formula that incorporates the date in cell F9 and demonstrates your understanding of relative and absolute cells in Excel. For this, you will need a formula that can compute absolute values to determine years of service. You could do this longhand, but it would take  a long time. So, try the YEARFRAC formula, which computes the number of years (and even rounds). Once you start the formula in Excel, the element will appear to guide you. You need to know the “ending” date (F9) and the hiring date (B11). The formula looks like this: =YEARFRAC($F$9,B11), and the $ will repeat the formula calculation down the column as before if you grab the edge of the cell and drag it to the bottom of the column. 3. To determine if an employee is vested or not In Column I, use an IF statement to flag with a "Yes" any employees who have been employed 10 years or more. Here is how an IF statement works: =IF(X is greater (or less than) Y, “Answer”, IF not, “Answer”). To create this as a formula, it would look like this: =IF(F11>=10,"Yes","No"). You can drag this formula down the column, or highlight the starting cell, hold down the Shift key, and zip down to cell 382 and release, and the whole column should compute properly. 4. Using the VLookup function, 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. VLOOKUP requires that you tell Excel where to look for the information. =VLOOKUP(Cell value to look up, From:To, Position, Alternate answer?) Go to the data first: Snip is used by courtesy of Microsoft. You will devise a formula that will match the state to a region (in position 2). We will use the $ function to enable a repeat of the formula down the column. =VLOOKUP(M11,$F$417:$G$420,2,FALSE). Step 3: Use Functions to Summarize the Data With the data built, you are ready to start using tools to summarize 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 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! Step 4: Analyze the Workforce You’ve summarized the data. Next, you will employ descriptive or summary statistics to analyze the workforce. Your summary tables 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. You will be working in Section 3 of the Data tab in the spreadsheet to complete the descriptive statistics for the five categories (Salary, Hourly Rate, Years of Service, Education, and Age). Using Excel formulas, complete the table. After you have used Excel formulas to find this information, you will next use the Toolpak to find summary statistics. Descriptive or Summary Statistics 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 the following variables: salary, hourly rate, years of service, education, and age. You will be calculating: 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: 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 close to the mean and to each other; thus, a high variance tells us that the data points are 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. Step 5: Use the Analysis Toolpak Your data set is now built. Now, you will use the same functions to perform the Descriptive Analysis Using the Analysis Toolpak. 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. Step 6: Create Charts and a Histogram Where would we be without the ability to view data in charts? It is sometimes easier to grasp the context of data if it is 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. Work With Data to Create Charts It is often helpful to view and interpret analytical results when they are presented visually. Graphs and charts help readers digest and interpret information 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 percentages of employees by (1) gender, (2) education level, and (3) marital status. Explore pie chart formats. 2. Create separate bar charts that show the (1) number of employees by race and (2) 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–$20,000; $20,001–$30,000; $30,001–$40,000; and so forth, up to the highest salary range. This involves counting how many employees are in each "salary bucket" to create a frequency distribution table and histogram. Histograms seem hard, but mastering how to visualize the frequency of events is helpful for analysis. Used with
project-h4rp10g4.docx step-1-lgfph1le.xlsx step-1-immxwhhq.pdf step-4-4rbk40mu.pdf step-5-t1013fca.pdf
Answered 4 days AfterFeb 17, 2021

Answer To: Step 1: Set Up Your Spreadsheet Now that you’ve assessed and refreshed these important skills,...

Sudharsan.J answered on Feb 21 2021
149 Votes
QR Questions_Responses
 Apply Quantitative Reasoning
Now that you have completed your analysis, think about the patterns you have seen in the workforce.
In this final section, you will answer five questions and write a short essay.
1. From the created histogram, it appears that a large share of employees have a salary between $61,000–$110,000 or $131,000–$170,000. This may indicate a reasonable promotion rate for new and seasoned employees. Is this distribution unimodal or bimodal? Please explain.
2. The line chart, as detailed in your "Graph Charts" Excel spreadsheet, shows sales generally increasing over the years, although sales in the first two years were notably lower. Assuming that the sales are linear, please use the Forecast tool to find projected sales for 2020 thru 2024. Hint: An easy way to do this is to highlight the sales from the data page and apply the Forecast tool to this data or use the forecast function in excel. You will generate a chart on a new sheet with projected sales; rename this sheet "Projected Sales".
3. The standard deviation provides insight into the distribution of values around the mean. If the standard deviation is small, in general, the more narrow the range between the lowest and highest value. That is, values will cluster close to the mean. From your descriptive statistics, describe your standard deviations of Salary, Hryly Rate, Yrs Worked, Education, and Age. 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. Its emphasis is on a diverse, dynamic workforce. From your "Graph Charts" spreadsheet, describe your pie chart findings for these characteristics of the workforce. Describe how you would determine if 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 know an estimate of the number of positions per job title. From your Excel chart, identify the mode of the job title distribution. Describe your findings.
FINAL ESSAY:
Now that you have done all the work with data, you will write a short three- to four-paragraph 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!
Structure your essay like this:
a. Write a one-paragraph narrative summary of your findings, describing patterns of interest.
b. Provide an explanation of the potential relevance of such patterns.
c. Provide a description of how you would investigate further to determine if your results are "good or bad" for the company.
Prepare your response in this workbook. (Simply expand this text box to accommodate your essay and other answers, or you can copy and paste from another document.)
DATA
    Workforce Profile Analysis
    Section 1: Complete all Columns in Data Set
    Format for:
    Number    Date    General    Currency    Currency    Number    General    Number    General    Number    Number    Number    Text    General
        mm/dd/yy
                        Year Ending    Vested Yr
                        12/31/19    10
    Emp #    Hire Date    Role    Salary    Hrly Rate    Yrs of Svc    Ed    Age    Vested    Race    Gender    Status    State    Region
    4000    4/23/15    Sr Cyber Investigator    $92,267    $44.36    5    19    35    No    3    1    1    IL    Midwest
    4004    7/13/02    Cyber Analyst    $111,801    $53.75    17    16    60    Yes    3    1    1    IL    Midwest
    4010    11/25/18    Forensics Analyst    $90,688    $43.60    1    16    23    No    1    2    2    PA    Northeast
    4012    1/26/10    Cyber Analyst    $95,985    $46.15    10    14    43    No    1    1    1    NE    C-Plains
    4013    12/29/11    Cyber Analyst    $100,520    $48.33    8    19    44    No    3    1    1    IL    Midwest
    4014    10/2/11    Forensics Analyst    $125,156    $60.17    8    19    31    No    1    1    1    IL    Midwest
    4015    1/1/12    Cyber Analyst    $78,475    $37.73    8    16    40    No    3    1    2    PA    Northeast
    4020    5/9/11    Cyber Analyst    $93,518    $44.96    9    14    39    No    1    1    1    PA    Northeast
    4022    5/27/04    Cyber Analyst    $69,529    $33.43    16    16    53    Yes    3    1    1    PA    Northeast
    4023    2/6/14    Advertising    $128,384    $61.72    6    16    28    No    1    2    2    NE    C-Plains
    4025    12/12/14    Cyber Mgr    $151,174    $72.68    5    16    38    No    3    1    1    PA    Northeast
    4027    8/19/06    Sr Cyber Investigator    $71,914    $34.57    13    16    51    Yes    1    1    1    NE    C-Plains
    4029    6/5/11    Cyber Analyst    $152,446    $73.29    9    14    36    No    4    1    2    IL    Midwest
    4030    7/10/11    IT Staff    $57,727    $27.75    8    16    51    No    3    1    1    IL    Midwest
    4031    10/20/13    Cyber Software Engineer    $78,869    $37.92    6    16    39    No    3    1    1    PA    Northeast
    4034    5/21/06    IT Staff    $90,930    $43.72    14    19    45    Yes    3    1    1    PA    Northeast
    4037    9/13/13    Forensics Analyst    $67,866    $32.63    6    14    25    No    3    1    2    PA    Northeast
    4038    4/14/12    Cyber Analyst    $64,580    $31.05    8    16    40    No    1    1    1    PA    Northeast
    4039    5/30/13    Cyber Analyst    $91,771    $44.12    7    16    30    No    3    1    2    PA    Northeast
    4044    12/3/15    Cyber Analyst    $59,219    $28.47    4    14    35    No    3    1    2    NE    C-Plains
    4045    6/7/16    Physical Security    $32,367    $15.56    4    12    25    No    3    2    2    NE    C-Plains
    4046    9/4/06    Cyber Analyst    $115,974    $55.76    13    16    54    Yes    1    1    1    PA    Northeast
    4055    6/17/18    IT Staff    $99,786    $47.97    2    14    31    No    1    2    2    PA    Northeast
    4060    2/1/12    Sr Cyber Investigator    $73,650    $35.41    8    19    42    No    3    1    1    IL    Midwest
    4061    2/28/12    Cyber Analyst    $154,933    $74.49    8    16    34    No    3    1    2    PA    Northeast
    4064    1/18/16    Cyber Analyst    $144,571    $69.51    4    16    36    No    4    1    2    PA    Northeast
    4067    10/29/12    Malware Reverse Engineer    $124,996    $60.09    7    16    49    No    2    1    2    PA    Northeast
    4068    7/15/03    Cyber Analyst    $145,776    $70.08    16    16    59    Yes    3    1    1    IL    Midwest
    4070    4/4/17    Forensics Analyst    $80,191    $38.55    3    16    28    No    1    1    1    PA    Northeast
    4075    10/2/16    Forensics Analyst    $75,053    $36.08    3    14    25    No    3    1    2    IL    Midwest
    4078    7/15/09    Cyber Analyst    $83,851    $40.31    10    16    51    Yes    1    1    1    PA    Northeast
    4082    7/2/15    Cyber Analyst    $82,411    $39.62    4    16    37    No    3    1    1    IL    Midwest
    4086    9/18/07    Cyber Analyst    $114,721    $55.15    12    14    51    Yes    3    1    1    PA    Northeast
    4088    7/18/17    Public and Business Office Team    $108,342    $52.09    2    16    34    No    3    2    1    IL    Midwest
    4089    10/16/16    Cyber Software Engineer    $81,050    $38.97    3    16    36    No    3    1    1    PA    Northeast
    4090    11/15/15    Cyber Analyst    $87,641    $42.14    4    14    33    No    4    1    2    IL    Midwest
    4092    7/7/08    Forensics Analyst    $98,943    $47.57    11    16    36    Yes    3    1    1    PA    Northeast
    4093    8/25/10    Cyber Analyst    $93,936    $45.16    9    19    47    No    3    1    2    NE    C-Plains
    4095    12/31/04    Cyber Analyst    $133,678    $64.27    15    16    52    Yes    3    1    1    PA    Northeast
    4097    2/26/07    Cyber Analyst    $162,731    $78.24    13    16    53    Yes    1    1    2    IL    Midwest
    4104    7/21/08    Logistics    $71,690    $34.47    11    16    51    Yes    3    2    1    PA    Northeast
    4106    5/7/17    Public and Business Office Team    $150,263    $72.24    3    16    57    No    3    1    1    IL    Midwest
    4107    11/5/13    Cyber Analyst    $78,334    $37.66    6    19    34    No    3    1    1    PA    Northeast
    4118    8/13/17    IT Mgr    $154,933    $74.49    2    16    24    No    3    1    1    IL    Midwest
    4119    8/31/16    Cyber Analyst    $86,384    $41.53    3    16    26    No    3    1    2    IL    Midwest
    4120    8/30/13    Sr Cyber Investigator    $127,190    $61.15    6    16    34    No    3    1    1    IL    Midwest
    4121    8/31/11    Cyber Analyst    $148,111    $71.21    8    16    36    No    2    1    1    NE    C-Plains
    4122    8/4/14    Cyber Analyst    $86,147    $41.42    5    16    39    No    2    1    1    IL    Midwest
    4126    12/24/16    Cyber Analyst    $60,641    $29.15    3    16    34    No    4    1    1    NE    C-Plains
    4128    5/16/03    Cyber Analyst    $126,426    $60.78    17    14    56    Yes    3    1    1    PA    Northeast
    4133    5/29/12    Forensics Analyst    $119,165    $57.29    8    16    31    No    4    1    1    PA    Northeast
    4134    6/30/17    Acctg/Fin    $98,007    $47.12    3    19    28    No    1    1    2    PA    Northeast
    4135    2/24/16    Forensics Analyst    $76,956    $37.00    4    16    26    No    3    1    2    NE    C-Plains
    4137    1/14/09    Cyber Analyst    $98,634    $47.42    11    16    52    Yes    3    1    1    NE    C-Plains
    4139    2/20/14    Cyber Analyst    $87,056    $41.85    6    16    41    No    3    1    1    IL    Midwest
    4144    12/4/17    Sr Cyber Investigator    $96,062    $46.18    2    16    31    No    4    2    1    IL    Midwest
    4146    12/4/11    Cyber Analyst    $104,961    $50.46    8    16    41    No    1    1    1    PA    Northeast
    4147    9/30/17    Cyber Analyst    $122,352    $58.82    2    16    28    No    3    2    2    IL    Midwest
    4150    9/6/17    Physical Security    $33,367    $16.04    2    12    22    No    1    1    1    IL    Midwest
    4152    7/19/12    Cyber Analyst    $151,523    $72.85    7    16    41    No    1    1    1    NE    C-Plains
    4155    7/16/01    Public and Business Office Team    $89,522    $43.04    18    19    68    Yes    3    1    1    NE    C-Plains
    4163    9/11/14    Cyber Analyst    $74,419    $35.78    5    14    38    No    1    1    1    IL    Midwest
    4167    8/26/05    Cyber Analyst    $111,536    $53.62    14    16    51    Yes    1    1    1    NE    C-Plains
    4169    3/14/14    Acctg/Fin    $65,100    $31.30    6    14    40    No    3    2    1    PA    Northeast
    4175    11/29/11    Cyber Software Engineer    $162,731    $78.24    8    16    54    No    3    1    1    NE    C-Plains
    4176    11/23/17    Cyber Analyst    $135,533    $65.16    2    14    28    No    3    1    1    IL    Midwest
    4177    3/26/12    Sr Cyber Investigator    $82,515    $39.67    8    16    39    No    1    1    2    PA    Northeast
    4181    7/15/03    Cyber Analyst    $123,391    $59.32    16    12    59    Yes    3    1    1    IL    Midwest
    4183    10/29/14    IT Staff    $65,126    $31.31    5    16    38    No    1    1    1    NE    C-Plains
    4186    3/9/18    Sr Public and Business Office Team Mgr    $172,291    $82.83    2    16    57    No    1    1    1    IL    Midwest
    4189    4/24/11    Physical Security    $53,669    $25.80    9    14    42    No    1    2    1    PA    Northeast
    4191    7/11/04    Acctg/Fin    $71,026    $34.15    15    16    49    Yes    3    1    2    NE    C-Plains
    4193    10/27/15    Sr Cyber Investigator    $125,004    $60.10    4    16    32    No    1    2    1    PA    Northeast
    4198    6/5/17    Forensics Analyst    $73,447    $35.31    3    14    27    No    3    1    2    IL    Midwest
    4199    7/16/12    Cyber Analyst    $151,174    $72.68    7    16    38    No    3    1    1    NE    C-Plains
    4204    12/14/13    Cyber Analyst    $61,212    $29.43    6    14    43    No    1    1    1    IL    Midwest
    4205    11/26/14    Cyber Analyst    $106,640    $51.27    5    14    40    No    4    2    1    IL    Midwest
    4207    6/22/14    Cyber Analyst    $91,205    $43.85    6    14    37    No    3    1    1    NE    C-Plains
    4208    2/15/16    IT Staff    $61,383    $29.51    4    14    26    No    3    1    1    IL    Midwest
    4212    4/4/19    Public and Business Office Team    $61,068    $29.36    1    16    37    No    3    1    1    NE    C-Plains
    4214    5/9/13    Advertising    $145,776    $70.08    7    19    30    No    3    2    2    IL    Midwest
    4218    11/30/06    Cyber Analyst    $99,130    $47.66    13    14    50    Yes    3    1    1    IL    Midwest
    4220    9/17/06    Cyber Analyst    $164,033    $78.86    13    16    54    Yes    3    1    1    PA    Northeast
    4221    7/10/11    Malware reverse engineer    $74,000    $35.58    8    19    40    No    3    2    2    IL    Midwest
    4225    8/1/04    Quality Assurance    $63,125    $30.35    15    16    54    Yes    3    1    1    PA    Northeast
    4232    4/9/13    Cyber Analyst    $86,787    $41.72    7    16    34    No    1    2    1    IL    Midwest
    4237    11/2/14    IT Staff    $95,957    $46.13    5    16    41    No    3    2    1    IL    Midwest
    4238    6/24/18    Malware Reverse Engineer    $101,386    $48.74    2    16    27    No    1    1    2    PA    Northeast
    4239    1/6/17    Investigator    $78,985    $37.97    3    16    33    No    3    1    2    IL    Midwest
    4247    11/23/19    Forensics Analyst    $105,069    $50.51    0    16    21    No    1    1    2    IL    Midwest
    4249    8/17/07    Sr Cyber Investigator    $107,496    $51.68    12    16    43    Yes    1    1    1    PA    Northeast
    4252    3/23/16    Forensics Analyst    $97,885    $47.06    4    16    28    No    1    1    1    PA    Northeast
    4253    11/18/13    Malware reverse engineer    $86,377    $41.53    6    14    40    No    1    1    2    IL    Midwest
    4257    7/11/03    Cyber Mgr    $104,220    $50.11    16    19    51    Yes    3    2    1    PA    Northeast
    4258    1/24/13    Cyber Analyst    $58,540    $28.14    7    14    44    No    1    1    1    IL    Midwest
    4259    9/4/04    Forensics Analyst    $106,267    $51.09    15    16    40    Yes    3    1    1    PA    Northeast
    4260    9/19/15    Cyber Analyst    $88,743    $42.66    4    14    27    No    3    1    2    IL    Midwest
    4265    6/24/13    Cyber Analyst    $81,042    $38.96    7    16    30    No    3    1    2    NE    C-Plains
    4271    8/5/11    Sr Cyber Investigator    $72,213    $34.72    8    16    41    No    3    1    1    PA    Northeast
    4272    7/18/14    Admin    $78,873    $37.92    5    12    36    No    1    2    2    PA    Northeast
    4274    12/8/14    Cyber Analyst    $87,092    $41.87    5    16    30    No    3    1    1    NE    C-Plains
    4278    9/6/10    Cyber...
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