Business Research Skills Assignment 3: Individual ReportThis report consists of two parts: Part 1 requires you to undertake data analysis. Part 2requires you to discuss your findings from Part 1 with the help of academic literature, which.is nothing else than a literature review with respect to your analysis from Part 1.Each of the above elements carries a specific percentage towards the final mark of this part. You willfind their weights in the assessment criteria below.The word limit for the literature review is 2000 words (i 10%). Submission via Turn-it-in only. Thedeadline is 25 May 2014, 23.59pm..The literature review should critically discuss the academic(!) literature of the problem(s) addressedin part 1 of this assignment. This assignment is worth 50% of the total mark for this unit. Part 1 andpart 2 are each worth 50% of the final mark of this assignment. Submit both parts in one word file.Pa rt 1: Data AnalysisIn the assignment 3 folder on BREO you find an Excel file called salaries.xls. Use this file and the.data provided for this part of the assignment. The file contains the data of 135 employees and theirsalaries (in thousands of pounds). For each employee you also find data for how many years theemployee is employed by the company and for how many years, the employee is a senior officer inthe company.It is recommended that you use Excel for all calculations. For your submission, you need to provide.this Excel table in your word document as an appendix. The table should contain a_H calculations. Ifyou do not provide the Excel table you will fail Part 1 of this assignment. The total of marks in part 1is 50 marks.1) Calculate the mean, median, standard deviation of Salaries, Years in the Company andYears as a Senior Officer. (5 Marks)2) Calculate the mean of grouped data from the series Salaries. Use the following salary.classes: 0-50,000; 50,001-100,000; 100,001-150,000; 150,001-200,000; 200,001-250,000; 250,001-300,000; 300,001-500,000; 500,001-550,000. Show in detail howyou calculated the result. (10 Marks)3) Assume that the population mean is 90,000 and that the population variance is 25mln.What is the probability that an employee earns more than or equal to 113,000? Use the.Standard Normal Distribution to calculate the probability. Explain all your steps how you getyour result. (10 Marks)4) Explain briefly the rationale that salary level depends upon how many years an employeeserved in the company and how many years an employee served as a senior officer..(5 Marks)5) Test the hypotheses that the Salaries depend upon Years in the Company or Years as aSenior Officer. In order to do so ran a simple OLS regression of the kind Y = a + ,81X182X2 where Y are Salaries, X1 are the Years in the Company and X2 are the Years servedas a Senior Officer. Present your results in a table. (10 Marks).
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