Measures of Central Tendency Essay Example | Topics and Well Written Essays - 1250 words

Measures of Central Tendency - Essay Example Some books define measures of central tendency as measures of the central position. When applying the use of these measures of central tendency, some measures prove to be more effective and appropriate than others (Sharpe, 10). When applying the measures of central tendency one has to know the appropriate measure to use and under what condition is it suitable to work. There are three measures of central tendency, which includes the mean, mode, and median. Mean is the arithmetic average of a given set of data. Mean is the division of the sum of all available data by the number of all observations that contribute to the total sum of the data. Mean is summarizes the ratio or interval data in situations where the given set of data is symmetrical. The total frequency within each class interval concentrates at the midpoint of a given class interval (Davies, 21). To calculate the mean of a set of variables, one needs to divide the sum of all observations by the total number of the given obs ervations. The reasons for this procedure are that the total value is dependent on two factors that are values of individual observations and the total number of observation. When determining the mean of a given set of data, one has to standardize the simple sum by evenly distributing it across all observations. The formula for calculating mean is; Mean= Total sum/total observations. Mean has several advantages as a measure of central tendency since it takes all values of the observation into account. Also, mean is unique since each set of data has its own unique mean. However, mean is susceptible to influence from other outliners. Unusual values that are numerically large or small in a given set of data can affect the outcome of mean (Davies, 22). Additionally, the mean method is not appropriate when measuring the central position of skewed data. In case of skewed data, the mean losses the ability to show the central position of the data because of the skewness  always drags it f rom the typical value.

Informative report Assignment Example | Topics and Well Written Essays - 250 words

Informative report - Assignment Example The requirements including applicants’ eligibility, whether all application materials were turned in by the deadline, whether the applicant achieves the minimum standard scores on all evaluations and importantly whether he/she displays positive behavior, attitude as well as commitment to completing the college program. (Gateway to College). FRCC office also offers financial aid to the students to pay their tuition and other fees. To get that aid, the students need to have certain eligibility conditions. Apart from being a U.S. citizen or a U.S. permanent resident, they have to be classified as a Colorado resident as well. In addition, they need to have high school diploma, or pass the ACCUPLACER test. Importantly, they should have a â€Å"good standing in accordance with Front Range Community College’s Satisfactory Academic Progress policy.† (Financial Aid) Choosing a career is one of the most crucial decisions that will be taken by the students in their lives. To aid in taking that crucial decision, FRCC has in-house career counselors, who can aid the students. So, the students can schedule an appointment with these counselors, who will surely aid them in exploring various options and then focusing on one. There are also career assessment tools or softwares, which can aid the students in selecting their

Summarize and response (Corporate Economists Are Hot Again) Essay

Summarize and response (Corporate Economists Are Hot Again) - Essay Example This is because the economy of the country at time the year is always verge and anything could hit. According to a report issued by the department of labor economics, where a lot of data is available in the market, it makes it harder to predict future occurrences (Tita, 2014). Even when programmers have all the data that is needed, it requires someone with an economic background to analyze the information. When the economy of the US stabilized in the 1970’s, most firms dropped their in-house economists. They argued that they could get any GDP forecast from any person. The primary role of economists in a firm is to digest data and information provided and come up into conclusions. The analysis helps firms to determine the number of opportunities as well as risks in the business world. Economics background is essential in order to achieve this. They also serve as gatekeepers in firms to ensure that forecasts are made from a similar set of data. This aims at ensuring uniformity of the statistics provided and accuracy of the information given to all stakeholders involved. This is important in making financial decisions even in the future. Their knowledge and expertise are crucial in measuring business risks. They also offer consultancy services for new firms entering the market or even to existing ones. This may sometimes involve large business acquisitions. In such cases, market research on various key segments enables the economists to forecast on the future. However, like anyone one else in the business world, economists are prone to missing the mark. For instance, they forecasted that the economy in Asia will increase to 6.5%. Rather, this was not the case as it only rose to 3.5%. This was caused by China’s economy which grew slightly that expected. However, it is more difficult to make forecasts in the developing countries especially in Africa. This is because it is always difficult to quantify the level of demand at

How the mind and body are connected for the use of learning Essay

How the mind and body are connected for the use of learning - Essay Example â€Å"If you use the visual style, you prefer using images, pictures, colors, and maps to organize information and communicate with others. You can easily visualize objects, you a good sense of direction. You can easily find your way around using maps, and you rarely get lost. When you walk out of an elevator, you instinctively know which way to turn.† Visual learners have a keen sense of knowing where to go (Learning Styles Online, 2008, pg. 1). Visual learning style is also known as the spatial learning style. Visual learners love to draw and doodle. They love using different types of colors in their scribbling, as well as in their sense of style and dress. Visual learners often enjoy architecture, art, design, film, navigation, photography, and planning. Visual learners learn through seeing. â€Å"These learners need to see the teachers body language and facial expression to fully understand the content of a lesson. They tend to prefer sitting at the front of the classroom to avoid visual obstructions (e.g. peoples heads). They may think in pictures and learn best  from visual displays including: diagrams, illustrated text books, overhead transparencies, videos, flipcharts and hand-outs.   During a lecture or classroom discussion, visual learners often prefer to take detailed notes to absorb the information† (LDPride, 2008, pg. 1). â€Å"If you use the aural style, you like to work with sound and music. You have a good sense of pitch and rhythm. You typically can sing, play a musical instrument, or identify the sounds of different instruments. Certain music invokes strong emotions. You notice the music playing in the background of movies, TV shows and other media. You often find yourself humming or tapping a song or jingle, or a theme or jingle pops into your head without prompting.† Music and sound are key to auditory learners (Learning Styles Online, 2008, pg. 1). Once again, those who are

Scholarly Critique Assignment Example | Topics and Well Written Essays - 250 words

Scholarly Critique - Assignment Example Therefore, the study contributes meaningful evidence that can be used in the nursing practice. This is because it gives the health care institutions the knowledge of understanding that the nurses need a break from their work just as other employees in other areas of work (Garrett, 2008). Additionally, the research has given the government some insight where they should increase the patient to nurse ratio in all health care institution to reduce nurse dissatisfaction and burnout. The researcher indicates the implications of the study for the clinical practice. In that, the researcher indicates that nurse burn out puts the patients at risk because the nurses do not have the capacity to treat the patients properly as they are tired. The implications are reasonable and complete because they have clearly elaborated the causes of nurse dissatisfaction and burn out. In the sense that, there is inadequacy of nurses in the United States, where the government has been given the obligation to ensure that all hospitals have enough nurses to reduce the workload of the present nurses, which will in turn reduce job dissatisfaction and nurse

The Effect of Non-Financial Compensation Essay Example for Free

The Effect of Non-Financial Compensation Essay The Effect of Financial and Non Financial Compensation to the Employee Performance Arik Prasetya†  and Masanori Kato Graduate School of Asia Pacific Studies, Ritsumeikan Asia Pacific University Beppu-shi, Oita-ken, Japan Abstract This study aims (1) to examine the employee responses in terms of their performance to an implementation of the compensation policy that includes both financial and non financial compensations, (2) to analyze the influence of both financial and nonfinancial compensation collectively and individually. This research was conducted at PT. Telkom Malang Regional Office, by a proportional random sampling technique with the sample size of 57 employees. The results of the descriptive statistical analysis of financial and nonfinancial compensation showed that the compensation policy of PT. Telkom Malang Regional Office is in line with expectations of employees. Based on the results of multiple regression analysis, there are significant influences of financial and nonfinancial compensation to the employee performance. However it was noted that promotion did not influence the employee performance in this company. Keywords: financial compensation, salary, incentive, non financial compensation, promotion, employee performance INTRODUCTION Job performance is influenced by many factors. According to Kreitner and Kinicki (2007), performance management is â€Å"continuous cycle of improving job performance with goal setting, feedback and coaching, and rewards and positive reinforcement†. In this study the focus was given to compensation scheme. An investigation was conducted at PT. Telkom Malang Regional Office to see how such factors of compensation scheme affect job performance of the employees. The question that prompted the current investigation was What degrees at which the salary, incentives, benefits, promotion, self-development, and work environment collectively or individually have influence on employee performance? . Compensation Compensation is one of the physical needs that influence motivation which in turn will affect the employee performance. Providing appropriate compensation within the meaning of fair and adequate to meet the requirements is one of the personnel department functions that are difficult to implement. Compensation includes the financial returns to the services renered by employees as part of employment relationships. Compensation is a form of rewards that flow to employees arising from their employment (Dessler, 1995). Compensation has a big influence in the recruitment of employees, motivation, productivity and employee turnover (Bernardin Russell, 1993). The level and magnitude of compensation should be of concern because the level of compensation will determine the lifestyle, self esteem, and the value of the company. Cascio (1991) describes that the principles that must be considered in granting effective compensation are: a. The principle of fairness, taking into account the ratio between the highest and lowest salaries, cost of living, and so forth. b. The principle of justice, where there should be a good element of justice in connection with the element of working time and job performance.

Importance of Measuring Returns in Marketing

Importance of Measuring Returns in Marketing Marketing Metrics Background Organizations have rapidly moved into an era of focused marketing spending. Cost cutting is no longer considered the best possible revenue generation vehicle because of its limitations. Tougher economy has put screws to marketing and sales department budgets. It has made marketing to prove it’s spend or at least justify the value of its investment. Ahuja et al., (2001) highlight that cost cutting alone is not enough in increasing a firm’s revenue, nor does it dramatically improve the bottom line over the long term. However, finding the â€Å"lost† money that isn’t being wisely invested and reallocating it to more strategic marketing programs helps to increase a firm’s revenue and profits year after year after year (Kokkinaki Stefano, 2004). This has given rise to the marketing metrics, marketing mathematics, measurement marketing. Marketing spending is continually been questioned as marketing budgets get slimmer. There is an increasing accountability of marketing spending in the current market climate (Barwise Farley, 2003). The marketing industry has reached an era where the firms are increasingly been forced to spend on profitable activities. The allowance to spend on things that don’t directly support the firm’s strategic plan, vision, and mission is reducing by each passing day. Leaders and higher managers are trying to continuously trying to motivate their firms to identify spending that isn’t tied to investment in the firm’s future (Clark, 1999). This is done to free up the money to reallocate it more strategically to more profitable propositions. The time of overspending with little or no control is drawing to a close. The rise of internet marketing has also increased the relevance and importance of measuring as results can easily be measured online. Online marketers measure things such as ‘Click-through rate’ (measures the relevancy of e-mail offerings by tracking the  number of unique click-through). One of the other online measures used by organizations like Amazon is the ‘Goal conversion rate’ (integrates web analytics with e-mail marketing tool to track the metric that matters) . The rise of performance measurement Performance measurement has been touted as an improvement for organizations for decades. Marketing managers and policymakers now have measurement tools to help carry out their responsibilities to deliver and improve services. Performance measurement can provide the link between whats (objectives, targets and performance standards) and hows (behaviors, competencies and processes) of personnel performance (Deery et al., 2002; pg 471). The measurement process involves setting of corporate, department, team and individual objectives. Researchers have recommended that a performance measurement framework should start with an organizational analysis. A decision to implement the performance measurement system should be made according to the organizational principles and model of the organization following the identification of the existing structure and functioning of the organization and the evaluation of the structural problems (Ambler, 2001). The most innovative companies and organization s, do not simply execute one good program, rather, they integrate advanced management techniques into a comprehensive approach to productivity improvement. They use performance measurement and evaluation to help establish goals and measure results, estimate and justify resource requirements, reallocate resources, develop organization improvement strategies and motivate personnel to improve performance (Schaufeli Buunk, 2003; pg 383). While some organizations do not believe in assembling data for measuring, others find marketing metrics hard to assemble. Lack of IT systems can be partly blamed as many organizations find different metrics scattered across the organization for different time periods, different customer and stakeholder segments, and a multitude of purposes. Aims Objectives Aim To identify and demonstrate the importance of measuring returns in marketing The Purpose of this research is to gain fresh insights into the concept of marketing measurement, analyze the significance and relevance of measurement in the current marketing climate. All relevant measurement variables used by organizations to measure marketing effectiveness will be demonstrated. Their affect on strategic decision making will also be looked into. Objectives To analyze the importance of measuring marketing activities The research demonstrates the importance of measuring and the problems that might arise when marketing activities are not measured. Increased competition and lack of capital is making the marketing budget shrink which has meant more intelligent use of marketing money. This has greatly increased the importance of measurement within the marketing community as they want to know areas of higher return and focus their spend on these areas. To assess the benefits of measurement activities The study not only highlights the benefits of measurement but also demonstrates the loss by not measuring marketing activities. In the process, it also considers the extra cost which the organization may incur while measuring these activities (cost in the form of technology, people and other fixed and variables cost) To illustrate and depict the relationship between marketing measurements and strategic decision making. The research does not study the marketing measurement activities in isolation. It relates the impact of these measurements on strategic decision making. It takes the case of various medium and large organizations to justify the importance of measuring. It discusses the use of marketing measures by other organizations and the impact they have on strategic and tactical decisions. To examine the difficulties faced by organizations looking to measure marketing activities. Marketing activities are not easy to measure and organizations can face technical and process difficulties in trying to measure its marketing returns. Smaller and medium sized organizations may have to make investments in technology and human expertise in order to measure their activities. It can also change the way data is stored in the data bases and other technical issues. The research will analyze these factors and make conclusions after doing a cost benefit analysis of marketing measurements. To make appropriate recommendations regarding marketing measurements. The research will recommend specific metrics and the way they should be measured to give accurate and timely information to the organizations. It will discuss the use of these metrics under different marketing situations and budget constraints. Scope The scope of the research is limited to secondary research. There is limited field research done for the purpose of this research. Also, there are a huge number of different metrics used by organizations across the globe, the study looks at the most common and appropriate measures. There might be other marketing measures which are equally suitable. Also, the research is generic in nature which means that a particular measure discussed might not be suitable for a particular organization at a particular time. The measures and metrics suggested does not relate to the nature, structure and culture of the organization. The study does mention the relevance of discussed measures under varying circumstances. Rationale The interesting perceptions with contradictory thinking with regards to marketing measurements is what aroused sufficient interest in the author to go in for a research into the concept which has become a part of the marketing decision making and corporate strategy. Although, conventional wisdom dictates that measuring marketing activities will give an organization a good indication of their effectiveness, in reality, marketing measurement is still not practiced by most organizations. It has also been inefficient for others because of the use of irrelevant measures. This makes the topic even more interesting because it is not just the use of measures that leads to effectiveness but its the use of relevant and appropriate measure. This tricky concept of marketing measurements was what made the author go in for a research as no existing literature gave a clear-cut judgment on the subject. Get help with your essay from our expert essay writers Layout and structure of the dissertation The dissertation is laid out in five chapters, sub-divided logically on the basis of their relative importance to the study. Each chapter looks at the research problem in a different perspective though there is noticeable degree of inter-relationship amongst them. The actual study begins from chapter two with Review of Literature analyzing different marketing measures used across the industry and assessing its relevance to organizational decision making. The contents in the research report can be elaborated briefly as shown under the following headings. Chapter One Introduction As the name suggests, this chapter introduces the study of the primary focus of the area of research. It clearly marks out the purpose, aim and objectives of the research giving a reader a guideline as to what to expect. It also gives out the scope of the research and spells out the rationale behind the study. Chapter Two Literature Review This chapter primarily prepares the study for empirical work by looking at evaluations and conclusions drawn on certain theories and concepts to check for similarities and difference made by past writers on similar or related studies. It’s on this basis, that later stages in the research are developed. It is therefore, purely a representation of secondary data with various notions. In particular, academic journals, websites and textbooks that articulate models and related theories are used as a reference. Chapter Three Analysis of Research Findings This chapter is devoted to the presentation and analysis of the information collected and the theories studied as a part of this dissertation. Marketing measures are examined in detail. Illustrations are also given to highlight the relevance of these measures under different marketing climate and organizational structure. The learning from the review of literature are linked to metrics used by different organizations. The chapter also discusses various cases and illustrates the importance of using the ‘right’ metrics and measures. Chapter Four Conclusions After careful examination, evaluation, assessment and analysis of data, in this chapter, the study points out how the aims and objectives of the research are met. It points out how the respective objectives are realized and tries to give an answer to the research question. It also discusses the problems faced by organizations in implementing marketing measures and the associated systems. Chapter Five – Recommendations The last and final chapter of the study gives generic recommendations based on the study undertaken. From the various cases studied, it was felt that some metrics are absolutely vital to the business and gives a good indication of marketing performance. These measures along with other suitable metrics are recommended. The chapter also discusses the limitations of the study and areas where further research may be carried out. Summary This chapter provided us with a basic guideline of the things to come. It gave a detailed description of the aim, purpose and objectives of the study and what the study seeks to achieve. It clearly mentioned the scope of the research and areas where the study will not throw much light on. The study now moves forward to discuss the existing theories and concepts, to explore the concepts of marketing metrics and how metric s are measured. It will also examine the different metrics used by organizations and the relevance of those metrics and measurements to the organization.