Chi square test uses:
Chi square test could be used in the following business scenario:
- Suppose that a business wants to analyze that if few types of services or products would have better sell in the specific geographical location. Chi square test helps the business to analyze the location wise sales and the profit such as if the gasoline would be sold in neighbourhood is symptomatic according to the region’s median income. So in this case, the variable of the company would be X which is type of gasoline and Y is the income ranges. (Example: <0K, 40k-50k etc.) (Turner, 2008)
- Chi square test is used to analyze the alteration of the product mix of a company. It takes the concern of volume items, mid range and % of upscale and it directly make an impact over the total profit of the company. So in the X category, product type would be there and in Y category periods would be taken into consideration.
Process tolerances are a part of tolerances which specifies the needs and the requirements of a procedure that is used to manufacture the large or Hugh quantity of a product. The process tolerances look over the maximum average, minimum average and a standard deviation at a maximum level. Basically, the process tolerance could be defined by the according to the Cp and Cc which are specifying values (Kerzner, 2013).
Process tolerance represent about a unified approach to analyze and specify the tolerances level of two approaches which is commonly used i.e. statistical tolerance and worst case tolerance. It allows both the approached to collective together and it also allows them to behave in a proper manner so that a best result could be got.
Unclear communication on productivity:
To establish and analyze the strong business relationship, it is required for every business to set an effective communication relationship. The unclear communication of a business could affect negatively over the activities and business of the companies. Through this report, it has been found that if the communication of the business gets interrupted than the receiver would not be able to understand the clear meaning of the task and thus the productivity of the company would be affected (Burke, 2013). There are few points which occurred due to unclear communication and directly affect the productivity of a company, which are as follows:
- Employee Morale
- Lower efficiency
- Decreased innovation
Information in qualitative report:
Qualitative report is a preliminary research type. This research type is used to analyze the understanding of various underlying research, motivations and opinion. It offers the insights of the problems of the research and assists to develop the hypothesis or ideas for various potential quantitative researches (Larson & Gray, 2013).
Through the qualitative research, it becomes easy for the researchers to identify the quality information regarding the issues such as how the issues could be resolved and what are the benefits of the research topic. This research style gather the information related to the topic not about the figures.
Basically, various sources are available for a researcher to identify the motivation and the opinion related to the research topic. Every source is conducted in the different way and offer different outcome (Meredith & Mantel, 2011). Some of them bases over the primary data and other depends over the secondary data of the company.
Quantitative research and examples:
Quantitative report is a preliminary research type. This research type is used to analyze the understanding of various underlying research, figures and data. It offers the insights of the problems of the research and assists to develop the hypothesis or ideas for various potential qualitative researches.
Through various sources, quantitative research could be done by a researcher. Basically, surveys, questionnaire and various data and information are used by the researcher to gather the data (Schwalbe, 2015). Such as if a researcher wants to analyze the total population of the country than he or she could conduct a survey door to door or they could take the help of government data to identify the total population of the country. This is an example of the quantitative research.
Basically, various sources are available for a researcher to identify the figures and the data relayed to the research topic. Every source is conducted in the different way and offer different outcome. Some of them bases over the primary data and other depends over the secondary data of the company (Pinto, 2007).
Such as if a researcher wants to analyze the total age of the employees of a company than the researcher take the help of the top level management and ask all the employees to fill a questionnaire in which the date of birth, birth place, timing etc are mentioned. Through this questionnaire, it becomes easy for the researcher to identify the true and fair data of the employees.
The area of the histogram is according to the proportion of variable frequency and the width of the company is according to class interval of the information or the people who has been used for this research. Basically, it is a display of the various statistical information of a research or a problem. This is used by the rescuer by using the various figures and the information about occurrence (Stevenson & Hojati, 2007). The most common histogram depict that the independent values and variables are plotted against the horizontal axis of the histogram and the dependent values and variables are plotted against the vertical axis of histogram.
When the data are the numerical than the historical form is used to set the data in a historical way. This histogram could be used by the researcher to analyze the customer’s engagement with the help of the figures and the data. Through the histogram the products could be putted into the horizontal axis and the buying behaviour of the histogram could be plotted over the vertical axis to reach over a conclusion (Turner, 2007).
Benchmark of business:
Benchmarking is a process to compare the process and performance of a business to analyze the best practices of a company. In project management, benchmarking is used to support the process planning such as planning, selection and delivery of some projects. Dimension basically measures the cost, time and quality of a business.
In order to evaluate and analyze the best practice of benchmarking, administration evaluates the best companies in the industry, or in the similar industry’s where the same work is done, it compares the result of all the related firms and then set a benchmark for the company to make it more competitive and profitable in the industry (Baker, Murphy & Fisher, 2008). Basically a business and organization benchmark its business according to the process, time, manufacturing products, price and the total output of the company. These above factors are the most sensible to analyze and set a benchmark for a company.
According to an article, there are 24 sources through which a company could set the benchmark for its activities and business to make the company more competitive and profitable in the industry. Out of 24 sources, most of the sources are used by the company to gather the substantial information and set the benchmark. Basically, following are some of the sources through which a company could set the benchmark for its activities, operations and the business:
- Maintenance and support
- New business development
- Six sigma
- Build the estimation models
- Total time required
- Total cost required
- Total output of the company’
- Total sales of the company
- Difference in the demand and supply of the products (Highsmith, 2009)
- Various cost drivers
- Operations and activities of the company
Though above are some of the sources on the basis of that, it becomes easy for a company to set best benchmark for the benefits of the comapny and for enhancing the level of the profits of the company.
Designing a new process:
Designing a new process for the company is bit hectic for the management and all the stakeholders of the company as it take them various times to understand the new process and implement them in a better manner to get a better result. Through this study, it has been found that for designing a new process, various factors are there which make an impact over the performance and the implementation of the new project. Following are the factors which are involved in design a new process for the company:
- Why the new process is required
- Understand the essence of the implementation of the process
- Analyze the domain area and identify the common sense of the company
- Process designing : analyze and answer the questions
- Analyze the implementation and approve that
- Implement it in a proper manner (Fleming & Koppelman, 2016).
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Highsmith, J. (2009). Agile project management: creating innovative products. Pearson Education.
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