Statistics For Management Assignment Sample

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 1.Introduction

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Evaluation of business nature is important factors to identify future progression and activity regarding the company. Using internal and external factors of analysis of a business evaluate inventory, specificity of management and quality of business planning. Considering a manufacturing company in the UK would be evaluated by statistics. Further progress for statistical evaluation “Rolls-Royce Holdings plc '' will explore different factors that influence business for future. External factors like GDP, import and export related data will be analysed to understand the influence of external factors on this business organisation. Considering those prospects for sun iwess economy evolution would be useful to identify different essential factors for future business planning. Statistical analysis of the organisation adjusted close and volume data to help to present the relationship with GDP, import and exports of the UK. Evaluation of change in GDP relation with organisation share price will be defined about different relation of different economical factors.

2. Evaluation regarding nature of business and economic data

Evaluation of business processes helps to gain information about economic data and respective industries of the UK. GDP of a country is related to manufacturing industry performance, here considering the “Rolls-Royce Holdings plc” evaluate manufacturing progress of this organisation. Through manufacturing industry evaluation helps to gain progress in this industry in previous years. This organisation has operated business since 1904, which indicates huge experience in the business segment. This organisation is perfromaning huger economical influence. This organisation is a well known manufacturing company of the UK. Furthermore, this organisation has a huge market share in the domestic and international market. Using different factors of this organisation help to produce statistical analysis of this business organisation. This Due to performance vulnerability of this organisation impact on adjusted closing value of shares. Along with that volumer of trade is changing according preparticipation of investors and retail traders. 

Considering GDP of the UK helps to identify financial progress or deficit in previous years. Although, the GDP of a country depends on the growth of domestic production of organisations. Whereas GDP growth of a country has decreased due to different factors that directly impact the economy of the UK. GDP and organisation growth, both are interlinked because of economical factors. Increasing economy of the UK leads to higher growth of GDP, where manufacturing industries performance is growing. Through relation analysis of “Rolls-Royce Holdings plc'' share price with GDP growth would represent the relation of both factors. Another data source has been considered regarding importance and export of UK to evaluate import and export of goods which help to identify the influence of manufacturing organisation progress and help to identify previous years performance.

(GDP) Gross domestic product is very important as it helps to analyse the in depth information about the size and also howe mice efficiently the economy if performing. Moreover it is also used as an indicator of the overall health of the economy. In order, if in an economy real GDP increases then it indicates that the economy is working efficiently and working well. Moreover, in an economic perspective the company Rolls Royce contributes approx £ 12.2 billion to the economy of the UK. also it has provided approx 135000 jobs in the economy. Moreover, it has been observed that the economy of the UK is majorly dependent on the service sector which contributes around 72.8 % in the economy. The company is considered as making a luxurious automobile. As per the reports, it has been seen that sales volume of the company has been quite increased in the last few years, which indicates the performance of the company has increased quite a bit. Moreover, the profit for the financial year of 2022 is approx £ 402 million. Also it has been observed that the company contributes approx 0.7 % to the GDP of the UK. On the other hand, it spends £ 2.3 billion annually on 2300 UK companies. Moreover, ti has been observed that it export around 2% of goods globally. Also the company is working on nuclear technology which will be worth approx £ 250 to 400 billion by 2035. Also it is collaborating with the 19 UK universities in order to develop the pioneering technologies.

3. Evaluation of business and economic data using of statistical methods 600

Regression analysis is the statistical factors which help to identify coefficients of variables. In this prospect GDP is being considered an independent variable, whereas import and export volume of the UK are codependent variables for this analysis.

The regression analysis of those variables is present R square value 0.374, which indicates a positive relationship of import and export with GDP. The significant value of this regression model is presenting null value which means increment of export provides a positive influence on GDP (De Menezes et al. 2021). On the other hand, import of goods has a negative impact on the UK GDP (Finance.yahoo.com, 2022). Adjusted R square measures linear model of regression between variables. Considering this factor, adjusted r square value is .362 and similar as R square value. According to the t value of import and export suggest -1.468 export value and import value is -.224. This statistical fact derby to justification about there is no relationship is being established between import and export volume. Whereas import volume increases, that would not influence the export volume of the UK.

Based on regression analysis of adjusted closing price of Rolls Royals’s share price with export of goods help to identify relationship of both factors. Through regression analysis of both factors deriving R value .183, it represents volume and adjusted price does not establish a relationship with export volume. The significant value of those variables with independent variables is .188, it derives a low significant oriented negative relation between two variables (Brook and Arnold, 2018). This manufacturing organization needs to improvise production facilities for more export of automobile products worldwide (Ons.gov.uk, 2022). Contribution toward export of goods is not sufficient for relative relation establishment with export tholomew of UK. This also represents low significance levels of both variables which indicate higher potentiality of export in Rolls Royce increases the export volume of the UK. The economical factors of a country have depended on export volume because external business activity increases the financial condition of a country. Higher export volume of the Rolls Royce might increase the export volume of the UK.

Likelihood ratio test representing the export and import of goods derived from chi-square is 571.007. This indicates the likelihood between two variables' significant level is 1.0, which is evaluated if the significance of both variables is higher. In consideration of different factors about in\import and export goods is significantly described an\bout both variables are not dependent on each other. Increasing exports of the UK does not justify the increasing import of the UK. Using ratio likelihood analysis help to identify about higher progress of export goods is increasing due to huge impotrnt of goods in the UK. another factors between two variable identified by Pseudo R-Square (Chirico et al. 2019). The Cox and Snell represent value .996, it indicates growth of import and export both relevant to GDP of the UK (Ons.gov.uk, 2022). Manufacturing organization contribution for increment of export is important because the significant level of export of goods is 1, it indicates growth of expert goods volume to increase GDP growth of the country (Kemp et al. 2018). On the other hand, Important nof goods significant level is .869, which derives negative relation with GDP along with higher significant level.

Descriptive statistical analysis is being used to identify mean, m,redian, standard deviation of each variable, which helps to identify average higher and lower value of each variable (Bhatnagar et al. 2021). Therefore, the mean value of GDP has evaluated 86.25, which derives that the average GDP of the UK is 86.25. Maximum GDP volume is 102 and minimum volume is 66, both indicate lower and higher value of GDP. there are increased possibilities of export of goods, which directly increase the economical condition of the UK for economic growth.. Through, those statistical factors evaluate statics value is -.441. These data facts evaluate the progress of GDP of the UK is stable and it provides economical development to manufacturing industries (Yang and Lee, 2019). Considering Rolls Royal manufacturing company adjusted close price indicates mean value 137.016983, which is higher than GDP means value. This prospect indicates that average export of products of Rolls Royal is sufficient for GDP growth. Its contribution toward GDP is highly significant. 

Correlation between volume and import of goods

Correlation analysis of volume and import goods explore Std. Deviation 378060336.593 and 107.5226. Through output, import of goods is 3 times lower than volume. This represents the export of a UK country is much higher than export goods which increase actual trade earnings. This analysis reject the null hypothesis, it founds alternative hypothesis has established in two variables. Both arte variables are independent of each other.

Correlation between Adj close and export of goods

Based on the above analysis of correlation between adjusted close and export of goods represent relation of both variables. This statistical presentation finds precedence of null hypothesis between two variables. there are increased possibilities of export of goods, which directly increase the economical condition of the UK. Both are variable dependent on each other, whereas export of goods increases that impact on adjusted price of this manufacturing company. there are increased possibilities of export of goods, which directly increase the economical condition of the UK. Higher export volume of this organization has increased the influence of investors' participation in investment.

T-test

The t-test values of above variables are presenting different mean values of each variable. The different mean value of the adj. Close is 137.01, it indicates that volume is dependent with adjusted close price. Null significant value is representing, both variables could be changed according to performance of other elements, i.e, volume could be higher if adjusted c;osing value decreased by higher percentage. On the other hand, import and export of goods difference mean value evaluate 107.23 and 134.32. These statistical factors evaluate export of goods differently than import of goods. Furthermore, vulnerability in import of goods volume is higher whereas stable growth in export of goods has been highlighted in the analysis.

4. Application of statistical methods in business planning

Business planning is the process which helps to improvise organization output through different analysis. Organization contributions to export and revenue generation through this process need to be identified. With the help of descriptive statistics organisation mean, median value of export and revenue could be identified. Using statistical data like mean value evaluate average production, inventory and revenue related information which help to plan further progress. Evolution of average production of organization present production capability of the organization. On the other hand average revenue volume ide\icate about average erabnibgsd of the organisation.

In this prospect, Rolls Royce organization share price and volume evaluate its performance in previous years. Although, adjusted closing price evolution provides information regarding revenue of the organization each month. Through identification of average revenue of organization help to determine the business planning for further progress of business in future. Correlation factors between export volume and revenue have explored the contribution of the organization to export goods. Correlation statistical tools also help to define the relationship between two variables. That helps to identify contribution of one variable to another, i.e, the Rolls Royce company export and adjusted closing price relation describe about growth of revenue is dependent with export of UK. increasing the export business of Rolls Royce not only increases the volume of revenue but also boosts the economy of the UK. Economical and business process elevation through statistical tools help to identify higher growth of organisation depending on the economy.

Statistical evaluation of an organisation has produced relation and different values of variables which help to identify errors of business operation and also help to produce mitigation planning for further growth. Evaluation of business financial elements for business planning not only improves business operation, but also improves decision making ability of management. Proceeding with T-test statistical tools produces the mean difference of each variable, which helps to identify weakness of business in previous operations. As a exapamplse means value difference of revenue and cost is higher, it indicate organization is struggling with cost management practice. Higher cost related expenditure directly influences organisational profitability to downtrend. Along with that, regression analysis present relation of two variables, it identifies the impact of both variables on the organization performance. Considering that, revenue of the organisation is increasing, however net profitability has decreased because of huge export tax related expenses. In this cop madiotion organisation could make decisions about export related activity.

5.Crtical evaluation of the finding with relevant diagrams

This hypothesis testing is representing three variable fusion factors and the risk oriented part of those variables. Based on this testing, present import and export goods influence the GDP of the UK through economical influence. The growth of GDP is dependent on the export and import of goods. Actual benefits from export of goods are evaluated by deduction of import of goods. Deference volume o is represented as contribution toward GDP. This testing found all kinds of negotiation clouds possible below 50. This margin has produced a higher margin to GDP through higher export of goods. It also represents 6.53, which evaluates the significant value of this organization to help to define a higher significant level of GDP growth.

This graph is presenting the P-P plot of import and export of goods volume infusion over the GDP. Furthermore, a graphical presentation describing sustainable growth of GDP is dependent on the export of goods. According to economic factors related to man\ufcaturing industry, there are increased possibilities of export of goods, which directly increase the economical condition of the UK. Although, possibilities of export of goods could be increased by higher production facilities of manufacturing organisations. Exclusive profdiuctoion volume growth from manufcaturoing industries evaluate higher prosddsivc\biolities of or GDP growth. Production growth in Rolls Royce increases possibilities of revenue generation along with GDP growth. Based on economical factors the organization is stable because of higher export volume than import goods volume. Through alla prospect and;lysis of this graph is presenting higher possibilities of GDP growth through increase ring volume of export of goods by manufacturing organizations. 

This hypothesis testing is presenting a graphical presentation of adjusted close value and volume influence to GDP. Considering the economical condition of the UK has presented growth of GDP in previous years because of higher export volume, whereas this manufacturing organization share price is falaucting according to GDP trend. Through this graphical presentation of GDP contribution toward adjusted closing value and volume. With the help of proper presentation of close value and volume influence to GDP volume help to identify below 15 is the zone for negotiation. Although, this range has described the standard zone of closing value and volume growth influence to GDP. Using various data facts has explored the export volume of UK countries to evaluate the progress of business through different analysis of import and export volume. Additionally, the factors of this graph also present the growth of GDP is dependent on the export and import data facts. 

Above p-p plot is presenting the relation of three variables, which indicate equivalent fractions of different elements. Along with that, volume regarding import of goods has described the influence on GDP and adjusted closing price. Considering economical factors, Rolls Royce organization has evaluated the factors that influence the export of this organization. Furthermore, this prospect of the graph has explored whether higher activity of business needs to be focused on export co\vu\oliume for higher revenue.

6. Conclusion

Based on the above analysis it has been cancelled that the performance of the company Rolls Royce is quite sustainable. The performance of the company has been evaluated with the statistical calculation. Further, in the statistical calculation the regression analysis has been calculated. Moreover, it has been seen that the contribution of the company in the economy of the UK is approx 0.7 %. From a few years it has been observed that the contribution in the GDP is uite decreasing, which is quite not good for the company as well as the economy of the UK. The company should try to export more globally which helps to enhance the profitability of the company as well as it helps to sustain in the competitive economy. In order to increase the export the company should increase the inventory to produce more products. In the context of export of goods globally, it has been observed that the company is exporting its products approx 2 %, which is quite lower and the company should try to improve the export percentage. As higher exports will help further to generate more revenue and increase the profitability for the company. The higher export in the globally will help further to increase the investment, technology advancement and import expansion. The automobile sector is considered most divrce sector and technology advancement in the sector will help to gain the more customer base and help to provide the extra edge in the competitive market.

Reference list

Journals

Bhatnagar, V., Poonia, R.C., Nagar, P., Kumar, S., Singh, V., Raja, L. and Dass, P., 2021. Descriptive analysis of COVID-19 patients in the context of India. Journal of Interdisciplinary Mathematics, 24(3), pp.489-504.

Brook, R.J. and Arnold, G.C., 2018. Applied regression analysis and experimental design. CRC Press.

Chirico, F., Heponiemi, T., Pavlova, M., Zaffina, S. and Magnavita, N., 2019. Psychosocial risk prevention in a global occupational health perspective. A descriptive analysis. International journal of environmental research and public health, 16(14), p.2470.alysis and applications. Routledge.

De Menezes, D.Q.F., Prata, D.M., Secchi, A.R. and Pinto, J.C., 2021. A review on robust M-estimators for regression analysis. Computers & Chemical Engineering, 147, p.107254.

Kemp, S.E., Hort, J. and Hollowood, T. eds., 2018. Descriptive analysis in sensory evaluation.

Yang, J. and Lee, J., 2019. Application of sensory descriptive analysis and consumer studies to investigate traditional and authentic foods: A review. Foods, 8(2), p.54.

website

(Finance.yahoo.com, 2022), Annual report of Rolls-Royce Holdings plc (RR.L), https://finance.yahoo.com/quote/RR.L/history?period1=852076800&period2=1656979200&interval=1mo&filter=history&frequency=1mo&includeAdjustedClose=true

(Ons.gov.uk, 2022), Import and export data of UK, https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/datasets/nationalaccountsarticlesuktradedataimpactassessmentfromnewdevelopments1997to2016annexes

(Ons.gov.uk, 2022), Industry wise monthly GDP of UK https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/gdpmonthlyestimateuktimeseriesdataset