Conduct Quantitative Analysis

This project will enable you to see the connection between data and how the use of quantitative analysis of that data informs solutions to practical problems with potential impact on your organization or industry.

 

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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?
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$382/2080
In Column F, calculate the number of years worked for each employee by creating a formula that incorporates the date in cell F9 and demonstrates your understanding of relative and absolute cells in Excel. For this, you will need a formula that can compute absolute values to determine years of service. You could do this longhand, but it would take you a long time. So, try the YEARFRAC formula, which computes the number of years (and even rounds for you). Once you start the formula in Excel, the element will appear to guide you. You need to know the “ending” date (F9) and the hiring date (B11). The formula looks like this: =YEARFRAC($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.
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.
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

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

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.

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 2:

 

 

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

 

 

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

 

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!

 

STEP 3

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 your summary statistics.

Step 4: Descriptive Analysis using 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?

1.First, make sure you have enabled the data analysis toolpak feature. When you completed that successfully, you will see the words “Data Analysis” or an icon on the top right on the Data functions. Select that and then choose “Descriptive Statistics” from the list.

2.The next step will be to provide the input and output. Since you want to have statistics for all the selected categories, you will provide the location of the data on the spreadsheet in the input box.

o Provide the inclusive cells for the five categories by typing in the field, or capture the columns with your mouse and the field will show in the input range.

o Check the labels box so you have titles for the categories. Then select “New Worksheet Ply.” Your output will be now be in a new sheet on your tab.

3.Label your new sheet Summary Stats and format the columns for readability.

4.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. You should not have a large disparity.This tool is handy for quick computations, and you will use it again to create your histogram , the next step.

STEP 5

 

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.

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:

Create separate pie charts that show percentages of employees by (1) gender, (2) education level, and (3) marital status. Explore pie chart formats.

Create separate bar charts that show the (1) number of employees by race and (2) the number of employee per state.

Create a line graph for the sales summary provided.

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 permission from Microsoft.

Note: Your Excel spreadsheet template has the upper limit and labels already identified. Complete the table and histogram by engaging the Data Analysis Toolpak. Place the output on a new worksheet and label it Histogram.

 

STEP 6

In this step, you will create Tab 5: Sorted Data. When you’re finished, you’ll be ready to conduct your quantitative analysis.

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.

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.”
Delete all rows containing Section 2 and Section 3 work. Be sure to leave the section in cells F417: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.
Apply the ability to sort data on each column of the spreadsheet, so that you can sort by employee #, hire date, role, etc.
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).
Sort the spreadsheet by region.
Employ the subtotal feature to subtotal the salary for each region, with a grand total for the company.
Format the entire spreadsheet to print, so that the columns fit on the pages, and Row 1 repeats on each page.

 

See below for example of sorted spreadsheet.

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