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This is a questionnaire about risk management and as it can
be seen that the potential is high for the competitive advantage, it is also
under observation that there are two variables involved, the first is risk
assessment and the second is risk objectives. Both of these variables are there
to determine whether there is a variation in both of the variables. There are
three tests that are applied to it. The first is Correlation, the second is
ANOVA and the third is paired t test. All three prove different points about
the data.
Analysis of the questionnaire about risk management
All the three tests are analyzed in this part of the report,
and the potential for the variables would be elaborated in similar fashion.
Correlation of the questionnaire about risk management
The correlation is given by the following table
|
|
Risk Assessment |
Risk Objectives |
|
Risk Assessment |
1 |
|
|
Risk Objectives |
0.085278506 |
1 |
It can be seen that risk assessment is affiliated by risk
objectives positively, indicating that an increase in one variable would
increase the second one. The relationship is however weak indicating that they
might have other variables that impact this relationship that are not in the
study.
ANOVA of the questionnaire about risk management
The ANOVA is taken for the following variables, and it can
be said that the variables have the following variance.
|
Anova: Single Factor |
||||||
|
SUMMARY |
||||||
|
Groups |
Count |
Sum |
Average |
Variance |
||
|
Risk Assessment |
145 |
440 |
3.034483 |
0.602969 |
||
|
Risk Objectives |
145 |
439 |
3.027586 |
0.679789 |
||
|
ANOVA |
||||||
|
Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
|
Between Groups |
0.003448 |
1 |
0.003448 |
2.688172 |
0.0584 |
1.87395 |
|
Within Groups |
184.7172 |
288 |
0.641379 |
|||
|
Total |
184.7207 |
289 |
|
|
|
|
It can be seen that there is the data significance. It can
also be seen that the potential significance is high. And so is the source of
variation, it can be said that the variation exists between and within groups
of both variables.
T test
The T-test is the source of comparison and it is further
seen that the t test of both variables paired is given below:
|
t-Test: Paired Two Sample for Means |
||
|
|
Risk Assessment |
Risk Objectives |
|
Mean |
3.034482759 |
3.027586207 |
|
Variance |
0.602969349 |
0.679789272 |
|
Observations |
145 |
145 |
|
Pearson Correlation |
0.085278506 |
|
|
Hypothesized Mean Difference |
0 |
|
|
df |
144 |
|
|
t Stat |
0.07665893 |
|
|
P(T<=t) one-tail |
0.469500642 |
|
|
t Critical one-tail |
1.655504177 |
|
|
P(T<=t) two-tail |
0.020998716 |
|
|
t Critical two-tail |
-2.051834646 |
|
It can be seen that there is a significant difference
between both variables, keeping in mind the p value and the t stats. It is also
seen that Risk assessment is not equal to risk objectives.
Conclusion of the questionnaire about risk management
It can therefore, be concluded that variables risk
assessment and risk objectives do have a positive relationship and the
variation and paired test have significant results. Therefore, it can be said
that the results denote that the potential variation between the two variables
is positive, and variation.
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