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Group 9 Analytics Assignmnet

This report analyzes salary data to uncover trends and the impact of experience on compensation, revealing a strong positive correlation (0.9782) between years of experience and salary. Key findings include a significant variance in salaries explained by experience (R-Square: 0.9570) and a progressive increase in average salaries from junior to senior employees. The insights derived from this analysis aim to support strategic decision-making in human resource and financial planning.

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bhoomika2024063
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7 views2 pages

Group 9 Analytics Assignmnet

This report analyzes salary data to uncover trends and the impact of experience on compensation, revealing a strong positive correlation (0.9782) between years of experience and salary. Key findings include a significant variance in salaries explained by experience (R-Square: 0.9570) and a progressive increase in average salaries from junior to senior employees. The insights derived from this analysis aim to support strategic decision-making in human resource and financial planning.

Uploaded by

bhoomika2024063
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Sec A Group 9 - Bhoomika 2024063 | Revanth 2024064 | Shreyas DG 2024249 | Tejas 2024227

Data Analysis Report

Introduction

This report provides a professional analysis of salary data through the lens of business analytics. By
leveraging statistical methods and visual tools, the objective is to derive meaningful insights
regarding salary trends, dispersion, and the impact of experience on compensation. These findings
aim to support strategic decision-making in human resource and financial planning.

Analysis and Interpretation

1. Data Overview

The dataset encompasses information about employees' years of experience and their respective
salaries. Key statistical measures include:

 Correlation: 0.9782 – Demonstrates a very strong positive relationship between years of


experience and salary.

 Covariance: 73,569.43 – Indicates a significant co-movement between experience and salary.

2. Salary Dispersion Analysis

Statistical metrics provide valuable insights into the salary distribution:

 Mean Salary: Represents the average salary within the dataset.

 Median Salary: Indicates the midpoint of the salary distribution, showing that half of the
salaries fall above or below this value.

 Mode Salary: Highlights the most frequently occurring salary in the dataset.

 Standard Deviation: Measures the extent of salary variation from the mean, where a higher
value indicates greater disparity.

 Z-Score: The Z-Score, calculated as (Salary – Mean Salary) / Standard Deviation, is -1.5101.
This indicates how far a specific salary deviates from the mean in terms of standard deviation
units.

3. Regression Analysis

Regression statistics are employed to understand the predictive relationship between experience and
salary:

 R-Square: 0.9570 – Explains 95.70% of the variance in salary based on years of experience.

 Adjusted R-Square: 0.9554 – Validates the model’s reliability by accounting for the number
of predictors.

The high R-Square value underscores that experience is a significant determinant of salary, aligning
with the observed positive correlation.

4. Histogram Analysis
The histogram analysis explores the frequency distribution of salaries:

 Bins: Represent salary ranges.

 Frequencies: Indicate the number of employees within each salary range.

The analysis reveals clustering in certain salary ranges, particularly for mid-level roles, while senior
positions exhibit broader variability.

5. Comparative Analysis

Employees are categorized as Junior, Mid-Level, or Senior based on years of experience:

 Average Salary for Junior Employees: ₹41,094

 Average Salary for Mid-Level Employees: ₹56,800

 Average Salary for Senior Employees: ₹101,317

The data indicates a progressive increase in salaries corresponding to higher levels of experience,
underscoring the monetary value of expertise and tenure.

Conclusion

This analysis presents a comprehensive examination of salary structures. The robust correlation
between experience and salary validates the critical role of tenure in compensation growth.
Regression and dispersion analyses provide deeper insights into salary variability and predictive
factors. Additionally, histogram and comparative metrics highlight clustering patterns and variability
across employee categories. These findings serve as a foundation for strategic workforce
management and compensation planning.

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