The percentage of the current rate is 68.4 and the percentage of the new rate is 57.8 and the values range from 14 to 20. When the values range from 20-28, there is 31.6% in the current rate and there is 42.2% in the new rate. New rate has less crew in the lowest range (14-20) than current rate. According to the data, the new rate appears more equitable to all the crews.      The mean between the current rate and the new rate increases about 1 point. This means that the mean between the current rate and the new rate does not change obviously, so it does not has big effect on the cost. At the same time, every crew’s wage will be improved.

QUESTION

Business Report of WGI

 

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The percentage of the current rate is 68.4 and the percentage of the new rate is 57.8 and the values range from 14 to 20. When the values range from 20-28, there is 31.6% in the current rate and there is 42.2% in the new rate. New rate has less crew in the lowest range (14-20) than current rate. According to the data, the new rate appears more equitable to all the crews.      The mean between the current rate and the new rate increases about 1 point. This means that the mean between the current rate and the new rate does not change obviously, so it does not has big effect on the cost. At the same time, every crew’s wage will be improved.
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Introduction

There are two groups of data for all 19 non-salaried work crew members. The data shows their current hourly pay rate and the proposed new hourly pay rate.

Method

According to this kind of values, we use Histogram, Central Tendency, Coefficient of Variation and to compare the increasing rate between current rate and new rate to evaluate whether the new wage is more profitable to take place the current rate.

Analyses

1.

The percentage of the current rate is 68.4 and the percentage of the new rate is 57.8 and the values range from 14 to 20. When the values range from 20-28, there is 31.6% in the current rate and there is 42.2% in the new rate. New rate has less crew in the lowest range (14-20) than current rate. According to the data, the new rate appears more equitable to all the crews.

     The mean between the current rate and the new rate increases about 1 point. This means that the mean between the current rate and the new rate does not change obviously, so it does not has big effect on the cost. At the same time, every crew’s wage will be improved.

 

The median increases by 1.12 point. By comparing it with the mean, it is more important to focus on the median because it will be not affected by the extreme values. When one compares the median of the current and new rates, one can see that most of the crew’s wages increase in the new rate, and the value is quite small so the cost are reasonable.

 

According to the mode, Mode is not worth focusing on. Here are the two reasons: First, the sample size is small. Second, mode has less frequency on both data.

 

The standard deviation of current rate is 3.719 and the standard deviation of new rate is 3.782. When we compare both rates, it is clear that the data are similar. It shows us that after increasing wages, the distances between each number change slightly. Wages depends on ability; crews that perform well receive better wages.

 

  1. The histogram about The Pay Increase is below,

 

There are some values over 6% but most of the values are below 5%. It illustrates that some crews that perform well increased wage. Although most of the crews with the normal performance still receive an increasing wage but it is not as much as the crews that have a good performance.

Conclusion:

According to the analyses, we can know that the proposed of the new wages is worth to do it. In the short-term, the cost is accepted. In the long-term, the motivation of the crews will be significantly improved.

ANSWER

Evaluating the Proposed Wage Increase at WGI: A Business Report

Introduction

In this business report, we assess the viability of a proposed wage increase for the 19 non-salaried work crew members at WGI. By utilizing statistical measures such as histograms, central tendency analysis, coefficient of variation, and wage increase distribution comparisons, we aim to determine whether the new wage structure is both equitable and profitable for the company.

Method and Analysis

To evaluate the proposed wage increase, we employed several statistical techniques. Firstly, a histogram analysis was conducted to examine the distribution of crew members across different pay rate ranges (Touran & Lopez, 2006). The findings revealed that the new rate presents a more equitable distribution compared to the current rate, with a decrease in the number of crew members in the lowest range (14-20) and an increase in the range of 20-28.

Central tendency measures were then employed to assess the overall impact of the wage increase. The mean between the current rate and the new rate showed a minimal change, indicating that the average wage remains relatively stable and cost implications are limited. However, it is noteworthy that every crew member will experience an improvement in their wage under the proposed increase.

Furthermore, the median, which is less influenced by extreme values, was analyzed. The comparison between the current and new rates revealed that most crew members would witness an increase in wages, with the magnitude of the increase remaining reasonable (Kaliyadan & Kulkarni, 2019). While the mode analysis was inconclusive due to a small sample size and low frequencies, it does not significantly impact the overall findings.

The coefficient of variation was examined to gauge the variability of wages. It was found that the standard deviation of both the current and new rates were similar, indicating that the proposed increase maintains stability in the wage distribution (Liu & Liu, 2022). This suggests that wages continue to be performance-based, rewarding higher-performing crew members accordingly.

To provide a comprehensive understanding of the wage increase, the distribution of the wage increase percentage was explored. The analysis illustrated that while high-performing crews experienced larger wage increases, most crews with average performance still received wage increases, albeit to a lesser extent.

Conclusion

In conclusion, the analyses conducted support the implementation of the proposed wage increase at WGI. The findings indicate that the new wage structure offers a more equitable distribution of wages, benefiting a majority of crew members (Hill & Romich, 2017). Furthermore, the minimal impact on the overall cost and the potential long-term improvement in crew motivation make this proposal economically feasible.

By optimizing the wage distribution, WGI can foster a fair and motivating work environment. It is important to note that the proposed wage increase accounts for variations in crew performance, ensuring that higher-performing individuals receive more substantial increases. With this approach, WGI can strike a balance between incentivizing performance and maintaining overall operational costs.

Overall, this business report provides a comprehensive analysis of the proposed wage increase at WGI, showcasing its potential benefits and feasibility. By embracing this change, WGI can enhance crew satisfaction, productivity, and ultimately contribute to the company’s long-term success.

References

Hill, H. C., & Romich, J. L. (2017). How Will Higher Minimum Wages Affect Family Life and Children’s Well-Being? Child Development Perspectives, 12(2), 109–114. https://doi.org/10.1111/cdep.12270 

Kaliyadan, F., & Kulkarni, V. (2019). Types of variables, descriptive statistics, and sample size. Indian Dermatology Online Journal, 10(1), 82. https://doi.org/10.4103/idoj.idoj_468_18 

Liu, W., & Liu, Y. (2022). The Impact of Incentives on Job Performance, Business Cycle, and Population Health in Emerging Economies. Frontiers in Public Health, 9. https://doi.org/10.3389/fpubh.2021.778101 

 

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