The week 11 assignment seems like a lot and could seem overwhelming, but BEFORE YOU THINK YOU CANNOT DO THIS just TRY a step-b-step approach! YOU WILL SURPRISE YOURSELF!  THERE

<Include your 5-year projected expenses and revenue here, as completed in W4A3, Part 1. Copy your final worksheet here and include your analysis.>

Descriptive Statistics and Analysis

Four primary domains are measured by descriptive statistics: position, frequency, dispersion or variation, and central tendency. It is employed to assess the qualities of the data. Information about the variables and their relationships is provided by descriptive statistics. It is simpler to comprehend and apply data for the intended purpose when the relationship between two or more variables in a data collection is highlighted (Statistics Canada, 2021). With the aid of descriptive analysis, data can be interpreted to reveal important themes and patterns. The information released includes the respondents' age, highest grade finished in school, family income, race and ethnicity, and work status at the moment.

Analyzing data based on how frequently it occurs from the research is known as frequency analysis. The frequency of the respondent's age, highest finished school grade, and family income from the previous month are explained below. The information displayed in every table is an illustration of the study that was done. A thousand participants in the study or a thousand samples based on the age of the respondent were gathered. Among the one thousand respondents, the youngest participants were 19.378 years old. The oldest participants in the practice were around 49.430 years old. This indicates that the age range of the one thousand participants in this activity was nineteen to forty-nine. All of the participants in the practice were, on average, thirty-six years old. The majority of respondents are near the mean for their age, as indicated by the standard deviation of 6.198741. At the time of the interview, a significant portion of the respondents were approximately 36 years old. The data is significantly asymmetrical, as indicated by the skewness of the data, which is -.374.

A tabular and graphical depiction of this analysis can be found below.

Descriptive Statistics

Nine hundred and eighty-nine people made up the sample in the greatest school grade practice. One is the lowest grade obtained in school, while sixteen is the best. Based on the available data, the average academic score attained by the participants is 11.28. The highest grades earned have a mean of 1.561. Many of the participants achieve a grade that is nearer the average. A cluster is present in the vicinity of the 1.561 grade. Eight hundred and ninety-five respondents took part in the study of the family income data that was supplied. A maximum of $6593 per month is earned by 895 households that took part in the interview; some families receive no income at all. The monthly average income earned by the families is $1172.59. For these statistics, the standard deviation is $788.153. The fact that the standard deviation deviates further from the mean suggests that each family's monthly income is highly scattered (Trafimow et al., 2019). With a data skewness of 2.030, the information gathered about monthly income is very unequal.

Below are tabular and graphical representations of the above analyses.

The goal of descriptive statistics is to explain how the variables in a statistic relate to one another. Age of the respondent, highest grade completed, race and ethnicity, employment status at the time of the survey, and family income from the previous month are the variables included in this statistic. The age range of the responders is nineteen to forty-nine. The majority of those surveyed are in the thirty-six-year-old range. The majority of respondents have an 11-grade education, which makes sense given the circumstances. Given that the majority of responders are 32, most have completed their education, though some are still enrolled..

Race and Ethnicity

In terms of race and ethnicity, 128 respondents are Hispanic, 53 are white and not Hispanic, 14 belong to other racial or ethnic groupings, and one did not answer the question. Of the respondents, 803 are black and not Hispanic. Black and non-Hispanic people make up the largest demographic among the 1000 respondents, accounting for 80.5% of the total. All responses added up to 100%: white and non-Hispanic respondents made up 5.3%, other respondents 1.4%, Hispanic respondents 12.8%, and one respondent, 01%. Below is a tabular representation of this analysis.

Race/ethnicity

452 respondents, or 54.6% of the 1000 respondents who took part in the interview, are employed; 546 respondents, or 45.2%, are unemployed; and 2 respondents, or 0.2%, are not in the employment system. Those who achieved a grade of 1 and those who are 19 years of age who may still be enrolled in school make up the 546 respondents who do not have a job. Given that the majority of respondents are between the ages of 32 and forty-two, there are 462 employed respondents. They are currently employed and have completed their education since they are thirty-two years old. The two responders who are not employed may be individuals who completed grade 1 education.

Below is a tabular representation of this analysis.

There is a direct correlation between the number of employed and unemployed respondents and their income from the previous month. Among the 462 respondents that have jobs, the percentage of respondents who earn $6593 is 6.59. Given that the majority of respondents received an average grade of 11, the average salary of $1172.59 is correlated with their academic performance. The respondent's standing in the job system and income from the previous month both increased with the grades they received. Families with unemployed members may be among those who did not receive any money for the preceding month. The highest grade received in school is influenced by the respondents' age. The number of applicants based on race and ethnicity correlates with the highest grade received. Every family's income is correlated with the number of workers. Higher employment levels would arise from more people obtaining higher levels of education, which would raise the amount of money earned in each family.

Below is a tabular and graphical representation of this analysis.

References

Trafimow, D., Wang, T., & Wang, C. (2019). From a sampling precision perspective, skewness is a friend and not an enemy!. Educational and Psychological Measurement, 79(1), 129-150. https://doi.org/10.1177/0013164418764801

Statistics Canada. (2021). Statistics: Power from Data 4.3 frequency distribution. Retrieved March 19, 2022, from https://www150.statcan.gc.ca/n1/edu/power-pouvoir/ch8/5214814-eng.htm

<Include your projected 5-year budget here, as completed in W6A4, Part 1. Copy your final worksheet here and include your analysis.>

A complete financial analysis of expenses and revenue is needed for our five-year budget in this healthcare business. This will ensure the venture's financial feasibility and sustainability. The budget displays a thorough financial trend over five years, covering startup and operating expenses (Dwivedi, 2022). VR equipment, training, infrastructure improvements, and other startup expenses reduce (Holuša et al., 2023). The company front-loads investments and tapers them as the project gains momentum and stability. $1,574,200 in startup expenses, largely in the first year. Disposable materials, maintenance, training, and other operating expenses are routinely distributed. This $360,000 annual operating expenses stability provides financial security. The stability of operating expenses improves budget.

Startup and operating expenses dropped over five years. This decline offers a financial strategy for operational efficiency and sustainability. By year five, expenses are $268,500, down from $1,934,200.Revenue diversification is obvious. Patient payments, grants, and partnerships provide funding. Patients pay $150,000 in the first year and $350,000 in the fifth. Five-year grants and partnership funding range from $100k to $50k. Minor profits soften the financial picture. ROI shows a company's financial performance. A negative ROI in the first year suggests early investment. Positive returns reach 0.88 in year five. This excellent trend shows the corporation may profit from its investment. Startup expenses are 18.5% of the budget but 8.4% by year five. Operating expenses average 18.6% of the budget over five years Strategic balance between initial investments and operating expenses is shown by these percentages. Risk analysis is essential to financial planning. Patients fee fluctuation grant funding instability infrastructural changes Dangers can be reduced by diversified income streams financial buffers flexible budgeting according to Viall et al. (2021).

In conclusion, the five-year projected budget reveals a sound resource allocation and financial sustainability approach You can count on a long-term success with broad revenue model calibrated launch and operating expenses Postive ROI and declining expenses show the budget’s financial discipline A growing company's budget reflects financial health, dangers, and expansion potential.

References

Dwivedi, Y. K. (2022). Metaverse beyond the hype: Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. International Journal of Information Management, 66(66), 102542. Sciencedirect. https://www.sciencedirect.com/science/article/pii/S0268401222000767

Holuša, V., Vaněk, M., Beneš, F., Švub, J., & Staša, P. (2023). Virtual reality as a tool for sustainable training and education of employees in industrial enterprises. Sustainability, 15(17), 12886. https://doi.org/10.3390/su151712886

Viall, A. H., Bekemeier, B., Yeager, V. A., & Carton, T. (2021). Local health department revenue diversification and revenue volatility: Can one be used to manage the other? Journal of Public Health Management and Practice, 28(1), E226–E234. https://doi.org/10.1097/phh.0000000000001327

W10/11A6 Organizational Statement Analyses

W10/11A6 Summary/Elevator Speech (PPT slides)

<Include a handouts view or other printout of your “elevator speech” here, that highlights the value of your proposal, incorporating selling points from your analyses that you believe make the business case for nurse entrepreneurship and leadership’s commitment to your proposed healthcare product or service>

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