Business Making Decision Assignment 2 BTEC Nguyen Huu Phong 2017

Business Making Decision Assignment 2 BTEC Nguyen Huu Phong 2017 tại University of Greenwich Viet Nam, đây là một trong những môn rất quan trọng và cần thiết cho những người muốn theo nghành businness cụ thể là human resource management như mình. Bài assignment này được mình làm tại trường. Các bạn có thể xem và tham khảo nhưng lư

Content Introduction 2.4 The salary and work experience graph of 15 officers 3.1 Relationship between salary and work experiences 3.2 Forecasting salary and work experience 3.3 Prepare a business presentation using suitable software and technique to disseminate information effectively 3.4 Produce a formal business report 10 Conclusion 12 References 13 Introduction Salary and experience is always two factors that a business and an employee cares The salary and experience always had an intimate relationship with the following from proportional to the inverse ratio In this report, I will analyze two factors based on a data table that I have just received This survey data tables based on 15 people surveyed on the salary and experience We will go further in each section to see this relationship Task 2.4: The salary and work experience graph of 15 officers The following is a table of data that it is based on 15 surveys provided to us specifically on wages and their working experience Salary work (million Experiences No VND) Y Gender (year) X 23 1 19.5 24 21 25 22 26.5 23.1 25 10 28 11 29.5 12 26 13 27.5 14 31.5 15 29 Based on this data, we can see the work experiences of 15 persons are stretching from to years with the lowest wages from 19.5 million VND and the highest is 31.5 million VND Accordingly, we can see the wage of 15 persons are in high-wage survey compared to the average wage in Vietnam According to the survey of JS, the average salary in Vietnam is only 384 - 582 USD Next, based on the wage from 19.5 to 31.5, the number of years of experience from to also shows the proportion of each other, we will see in the following section is based on the diagram Salary Graph: Salary 35 30 Salary (million VND) Salary (million No VND) 23 19.5 24 21 25 22 26.5 23.1 25 10 28 11 29.5 12 26 13 27.5 14 31.5 15 29 25 20 26.5 25 24 23 31.5 29.5 27.5 23.1 22 21 19.5 28 29 26 25 15 10 5 10 11 12 13 14 15 Salary Through the graph, we can see people surveyed had salary ranges from 19.5 million VND in the lowest and the highest is 31.5 million VND Salary can be evaluated is high compared to common ground and higher than the average wage of Vietnam However, this also shows a positive sign is that wages are rising each day each hour Go back to the chart, the highest salary is 31.5 million VND and 1.61 times higher than 19.5 million VND and concentrate at levels from 22 to 29.5 million VND Low-wage or high depending on the level of work, working hours, work efficiency and of course depend very much on work experience High wages like this also shows the skill level and experience working as well in average Experiences (years) Experiences Graph: Experiences No (year) 1 10 11 12 13 14 15 1 2 3 4 5 10 6 11 12 7 13 14 15 Experiences According to the arrangement of work experience from low to high so I easily look out is work experience of 15 people surveyed increased gradually from to years The difference of up to 1/8 also shows the work experience of 15 different people very much when people most highly experienced years and who have experienced low for only year Work experience is an extremely important factor that has any odd-a business would also like to have people who actually have experience in the field that they need The experience is too low is also a risk if a business wants to choose, businesses need training and observed throughout the initial process of the employee However, a few businesses also desire to have people with little experience to get the creative, dare dare think of doing Salary and Experiences of 15 officers: No Experiences Salary 1 23 19,5 24 21 25 22 26,5 23,1 25 10 28 11 29,5 12 13 14 15 7 26 27,5 31,5 29 Salary and Experiences 35 30 25 20 15 10 5 Experiences 10 11 12 13 14 15 Salary Mix two elements are salary and experience working together, we can easily see the connection between the two elements The arrangement of the five experiences of 15 persons according to a high level from to 8, their salaries under which also increases from 19.5 million VND to 31.5 million VND The this wage although uneven and there is the occasional high low but overall still wage increases based on the number of years of work experience Here is a normal element in the retail business, when a person who has experience and expertise in a field in a long time, then their wages will increase according to the proportional due to enhanced capabilities However, looking out over whether the proportionality has also been maintained or not, the answer may be not because of salary will only increase to a certain level and then stagnated and would no longer proportional to the number of years of experience 3.1 Relationship between salary and work experiences Salary and Experiences y = 1.283x + 19.899 R² = 0.7354 35 30 Salary 25 20 Salary 15 Linear (Salary) 10 0 Experiences The chart describes the relationship between salary and experiences - Formula analysis : y = 1,283x + 19,899 and R² = 0,73541 - Inside that: + x : is independence variable, is a variable, what is not changed when an other variable was changed In this case, independence variable is the years of experiences + y : is dependence variable, is a variable, what is changed depend on changing of an other variable In this case, dependence variable is salary + Following the formula, salary is depended on experiences + R2 : is reliability analysis This is the average percentage of accuracy of obtained result compare with reality Relationship between salary and work experiences: - a0: Positive relationship In this case, we can see a = 1,283 >0 It shows the relationship between salary and work experiences is the positive relationship Task 3.2 Forecasting salary and work experience Based on the regression formula, we can forecast the salary based on working experience, following the formula y = 1.283*x + 19.899 We have y = 1.283*x + 19.899 y: data on theory; y’: data on reality When we choose x1 = then y1= 23.748% But y1' = 25% When we choose x2= then y2 = 30.163% But y2' = 27.5% We easily see that the actual data is always less or more difference than the theoretical data The difference more or less depends on the reliability of R2 Here R2 = 0.7354 or 73.64% equivalent should the result between the theory into reality is not much different Based on this high or low R2 so that we can assess the level of change and reliable Task 3.3: Prepare a business presentation using suitable software and technique to disseminate information effectively SUMMARY OUTPUT Regression Statistics Multiple R 0.85756 R Square 0.73541 Adjusted R Square 0.715057 Standard Error 1.797622 Observation s 15 ANOVA df Regression Residual Total 13 14 116.761 42.0088 158.769 Coefficient s Intercept SS Standard Error 19.89925 1.02213 MS F 36.132 116.76 3.2314 t Stat Significanc eF 4E-05 P-value Lower 95% 5.3E11 17.691 19.468 Upper Lower Upper 95% 95.0% 95.0% 22.10 17.691 22.107 X Variable 1.282989 0.21344 4.4E05 0.8219 6.011 RESIDUAL OUTPUT Observation 10 11 12 13 14 15 Predicted Y 21.18224 21.18224 22.46523 22.46523 23.74821 23.74821 25.0312 25.0312 26.31419 26.31419 27.59718 27.59718 28.88017 28.88017 30.16316 Residual s 1.81776 -1.6822 1.53477 -1.4652 1.25179 -1.7482 1.4688 -1.9312 -1.3142 1.68581 1.90282 -1.5972 -1.3802 2.61983 -1.1632 Standard Residuals 1.0494 -0.971 0.886 -0.846 0.7226 -1.009 0.8479 -1.115 -0.759 0.9732 1.0985 -0.922 -0.797 1.5124 -0.671 1.744 0.8218 1.7441 3.4 Produce a formal business report Presentation Slides 10 11 Conclusion Through this report, we can easily notice the relationship between salary and experience Specifically in this case, the salary depends on experience, when the number of years of experience increased the wages also increased 12 References Linh, H and Nguyen, B (2016) Vietnam's salary is across Indonesia, lower than many countries, Available at: http://news.zing.vn/luong-viet-nam-ngang-indonesia-thap-hon-nhieunuoc-post645045.html (Accessed: 12 April 2017) 13