Question

High turnover rate is a common problem faced by auditing firms. Given this, Deloitte has hired a professional speed-dating company to organize social gatherings for staff. The purpose is to enlarge the employees’ social circle by inviting other professionals such as lawyers, bankers and engineers.

Now, if Deloitte wants to see whether the speed dating is an effective tool for staff retention (i.e., lower the turnover rate), what statistical analysis Deloitte could conduct for the evaluation? (Your answer should include how and what sample to be collected, what statistical tool to be used, and how to draw the conclusion).

Answer 1

solution:

Deloitte should conduct a two - sample test. They should collect the data of turnover rate before implementing speed-dating and after implementing speed-dating then calculate the average turnover rate to determine the difference made by speed-dating A two-sample t test or a two-sample non-parametric test would be required for that, which can be determined after collecting the data. The conclusion will be made on the p-value obtained in the hypothesis test, if the p-value is less than the level of significance then we will conclude that the speed-dating is effective otherwise not.

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