The business problem facing Wal-Mart is employee retention, which is leading to high employee turnover. This problem is affecting the company’s service delivery. In a bid to contain the situation affecting its employees, Wal-Mart has collaborated with some universities to help secure discounted courses for employees who want to further their studies. In the desire to resolve the problem, the research study will use quantitative data. The research variable for this study is discounted college fees for employees; this will help address the high employee turnover rate.
Analyze which types of inferential statistics might be best for analyzing the data, if you were to collect a sample.
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Inferential statistics is the act of concluding issue after analyzing a sample population. Instead of collecting data from the entire population, a sample is chosen, and then conclusions are made from the information given by the sample. The best type of inferential statistics for analyzing the data is regression analysis (Privitera, 2012). We will use regression analysis to establish the relationship between our research variables. The research variable is discounted college fees, and the regression analysis is the response.
Analyze the role probability or trend analysis might play in helping address the business problem.
This study will use probability analysis because it helps facilitate a better understanding of how the company is performing. Importantly, it will help predict whether the current employees will make the organization perform well or whether they need to be enrolled for further studies (Privitera, 2012). By doing this, it is easier to make conclusions, comparisons and even identify employees who need to further their studies.
Analyze the role linear regression for trend analysis might play in helping address the business problem.
The next step after collecting the data is to apply the regression analysis. This will help analyze the relationship between the research variables (Privitera, 2012). This will help Wal-Mart determine how many employees should be sponsored in Universities per year and the time they will need to finish their studies.
Analyze the role a time series might play in helping address the business problem.
We will use time series to answer various research questions. The management will look at the time series to determine how many more employees have finished the company-sponsored courses and in what period (Privitera, 2012).
References
Privitera, G. J. (2012). Statistics for the behavioral sciences . Thousand Oaks, CA: SAGE.
