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FIN60003 Business Modelling And Analysis

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FIN60003 Business Modelling And Analysis

0 Download6 Pages / 1,284 Words

Course Code: FIN60003
University: Swinburne University Of Technology

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Country: Australia

Question:
Select a random sample of size 100 from the given 810 cases (remember that 810 cases constitute the population of interest and you are not allowed to calculate any parameters such as mean and standard deviation). You will use this sample data to complete tasks 2 to 5.2. Descriptive StatisticsUse appropriate data summary methods to describe the (data name) data in your sample using the (number of) variables. Use an appropriate graphical and/or summary statistical technique, chosen according to the type of variable. These techniques will be chosen from:Tabular Techniques: e.g. Frequency tables and Grouped (joint) frequency tables.Graphical Techniques: e.g. Pie chart, Bar graph, Histogram (avoid three dimensional graphs).Summary Statistics: e.g. Mode, Median, Mean, Standard Deviation, Range, Coefficient of Variation and Interquartile Range.You will need to choose the most appropriate technique(s) for each variable being analysed. Less appropriate/inappropriate techniques will receive fewer/no marks.There are seven variables all together to be analysed. For paired variables (before and after), only analyse before variables.For a nominal or an ordinal (discrete) variable draw a graph and present a frequency table in percentages.For a ratio or an interval variable (continuous) draw a graph and a summary statistics table.Try to use variation in drawing graphs e.g. pie chart/ bar chart or histogram as much as possible.Do not draw two different graphs for the same variable.
3. Confidence intervalsEstimate the following quantities, using 95% confidence intervals. Explain the meaning of your confidence intervals.i. The average age of employees.ii. The average total time spend on social media.Compare both intervals with their respective true means.
4. Hypothesis TestingMargaret has some assumptions about the impact of time spent on social media on employees’wellbeing and wants to check their validity. She also wants to know whether her initiatives have been successful or not. Investigate these contentions by carrying out appropriate hypothesis tests.i. It is often felt that female employees spend more time on average on social media than male employees do.ii. After implementation of the new initiatives, employees’ stress levels have decreased.iii. After implementation of the new initiatives, employees feel they receive more support from their peers. Only report a non-technical explanation of your methodology and your findings in the main section of the report. The computations and output should be placed in an appendix.
5. Correlation and RegressionIn this section, first, Jason intends to investigate the relationship between the time spent on social media and employees’ productivity. As the second test, he investigates the relationship between the time spent on social media and employees’ job satisfaction. For these tests use before data. Use these variables to develop two regression models and make sure to provide full discussions on each test. You discussions for each test should include:a scattergram and full interpretationan estimate of the linear regression modelthe coefficients of correlation and determinationa test of the hypothesis that there is no linear relationship between dependent and independent variables
Answer:

The Melbourne law firm is currently considering the challenges for the new generation of workers, and management has decided to implement new strategies in the law firm to improve the work environment. The owners of the company are interested in expanding their activities and have identified the area to find the spirit of peers among employees, reduce stress and improve productivity.
The purpose of this report is to provide the address with preliminary information on: (i) the general capacity to create a controlled social media environment; and (II) important management decisions that need to be taken to ensure their job satisfaction, stress and peer-group support. The study supports the viability of business modeling in job satisfaction and employee stress support; a global financial analysis of the company is not a supplier because of the modification of the guidelines.
In the study two analytical concepts were used, namely the descriptive analysis and the inferential analysis. Descriptive analysis focuses on the age and initial attributes of employees in the social media access environment in which the firm operates; the inferential analysis investigates the management hypothesis and finds the difference in the properties of the employees attribute based on the changed environment. The study data is derived from the help of a questionnaire covering these two environments, including: job satisfaction, stress and peer support data, and the age of workers and gender information.
Analysis
The report is divided into two main sections: an area of analysis containing information on both environments, with respect to employees of the law firm; and a final part, which gives suppliers a concrete closure of the analysis of all the departments of the company.
Descriptive Statistics
Gender of the sample of 100 employees was explored first. This demographic detail of the employees revealed that there were 58% females with 42% male presence in the sample. The random sample of 100 employees was selected from the population of 810 employees of the law firm. Preponderance presence of female employees was identified from the sample’s demographic characteristics.
Employees were found to be evenly distributed from the details of their age (18.5 years – 69.2 years). Average age of the employees (M = 42.17, SD = 13.32) reflected presence of enough number of middle-aged employees in the firm. The consistent impact of social media has been observed earlier for this age group and the introduction of controlled social media environment was expected to be beneficial for these employees. From the Figure 2 of age distribution it was identified that employees’ age was normally distributed.
Considering the time spent on social media by the employees, the scholar noticed that a major section of the staffs (P = 72.0%) were involved for less than 2 hours a day on social media platforms. Remaining 28% of the employees were noted to be addicted to the social media sites, and were surfing them for more than 2 hours a day. Some of the employees were even spending 3 hours or more on social media sites.
The productivity of the employees was measured by the number of billable hours. Distribution of productivity revealed that 41% of the employees were working around 13 to 17 billable hours for the firm. An employee with 31.5 billable hours of productivity was also identified from the distribution. That particular observation could be considered as an uncharacteristic number of billable hours for an employee.
Job satisfaction, stress level, and support from peer group were measured as categorical variables and the percentage distribution details have been presented in Table 2. Almost 40% employees were identified to be disappointed with the firm, and their levels of satisfaction were confined at 3 or below. Stress levels were observed to be comparatively lower and 41% of the responses of the employees were restricted to level 2 of the scale. Peer support in the firm was noted to be symmetrically distributed, and the trend was in line with previous literatures of the usual office culture (Kang, and Sung, 2017). The entire descriptive analysis for categorical variables was conducted before the blocking of social media access to the employees.
Confidence Interval
With 95% confidence it was possible to conclude that average of all the employees in the firm was in-between 39.52 years and 44.81 years.  Time spent by all the employees of the firm was assessed to be somewhere between 1.11 hours and 1.52 hours in a day. The scholar is 95% certain about the claim about the average social media involvement timing of the employees.
Hypothesis Testing
Firstly, it was hypothesized that time spend on social media by the females (M = 1.54 Hours) were higher compared to that of the males (M = 1.01 Hours). The claim was accepted with 95% confidence (t (94) = 2.63, p < 0.05) by a right tail t-test. Secondly, it was also hypothesized that the stress level of the employees got reduced in the controlled social media environment in the office. At 5% level of significance it was found that average stress level in social media access situation (M = 2.54, SD = 1.30) was significantly higher (t (99) = 5.44, p < 0.05) than that in the collegial environment (M = 2.31, SD = 1.0) by a right tail paired t-test. Finally, it was also assumed that peer support level would increase in the controlled social media environment at the firm. At 5% level of significance, it was found that average peer support level in collegial environment (M = 6.09, SD = 2.4) increased significantly (t (99) = - 4.88, p < 0.05) compared to social media access situation (M = 5.31, SD = 2.66) by a left tail paired t-test. crelation and Regression The linear relationship between time spent on social media and employees' productivity was evaluated. The correlation was almost zero and the trend of the relation was apparent from the diagram in Figure 8. The estimated regression was done for job satisfaction (JS =Dependent variable) on time spent on the social media (SM = Independent variable), and the equation was found as. The linear relation was found to be statistically insignificant at 5% level of significance Increase in social media involvement is identified to decrease job satisfaction, but the impact was not significant enough for valid evidence. Conclusion The primary concern of this study was whether the controlling access to social media in the law firm is a viable option for increasing employee satisfaction level along with lowered stress levels. Based on both of the descriptive and inferential analyses, the conclusion drawn is that such an idea of controlled access to social media with  social spaces where employees could interact  of the business is likely to be a sound investment. The study also considered a gender basis study on time spent in social media, and the results reflected that females were more addicted towards the social media compared to that of the males. The negative effect of involvement time with social media on satisfaction level of the employees was noticed, but there was no evidence of linear relation between the satisfaction and social media involvement time. The Management issues that would need to be considered to ensure the success of the model were accordingly as follows. The target employee section should be female employees, with equal emphasis on social media control environment for males. The focus should be on high quality social space in the company so employees could interact and enjoy their breaks. Peer support should be taken into account of the office environment attribute, though it was not directly associated with satisfaction levels. In line with the demographic of the firm, business strategies should be mainly organized around the creation of collegial environment (Thompson2017). To ensure the retention of staff, an emphasis should be placed on developing the proper space for entertainment of the employees. References Kang, M. and Sung, M., 2017. How symmetrical employee communication leads to employee engagement and positive employee communication behaviors: The mediation of employee-organization relationships. Journal of Communication Management, 21(1), pp.82-102. Thompson, J.D., 2017. Organizations in action: Social science bases of administrative theory. Routledge. Free Membership to World's Largest Sample Bank To View this & another 50000+ free samples. Please put your valid email id. E-mail Yes, alert me for offers and important updates Submit  Download Sample Now Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days. UploadUnique Document DocumentUnder Evaluation Get Moneyinto Your Wallet Total 6 pages PAY 4 USD TO DOWNLOAD *The content must not be available online or in our existing Database to qualify as unique. Cite This Work To export a reference to this article please select a referencing stye below: APA MLA Harvard OSCOLA Vancouver My Assignment Help. (2021). Business Modelling And Analysis. Retrieved from https://myassignmenthelp.com/free-samples/fin60003-business-modelling-and-analysis/full-interpretation.html. "Business Modelling And Analysis." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/fin60003-business-modelling-and-analysis/full-interpretation.html. My Assignment Help (2021) Business Modelling And Analysis [Online]. Available from: https://myassignmenthelp.com/free-samples/fin60003-business-modelling-and-analysis/full-interpretation.html[Accessed 19 December 2021]. My Assignment Help. 'Business Modelling And Analysis' (My Assignment Help, 2021) accessed 19 December 2021.

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