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Ranking System

Status: Closed
Prize: $30
Entries Received: 2
Winner: attpls

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Contest Brief

I need a statistical analysis completed within excel. My goals are

1.) Calculate Standard Deviation
2.) Calculate Weighted Standard Deviation
3.) Develop a Ranking System (the goal of this ranking system is to identify the most and least influential companies based on the weight and hourly weight). For this example 1-21, with 1 having the greatest impact on the groups average hourly rate and 21 having the least.

For example,

Company ID 360116 has the lowest hourly rate within the group. Should I be concerned with this company? No, because its weight only represents 0.38% of the group. I need to mathematical define (with a rank) what I can internalize. I no this would have a high ranking (least influential) but would it be the least influential amongst the group.

Please let me know if you have any other questions. Thanks again

Just made an update to my file and attmepted my own ranking system. Not sure if this is mathematically sound.

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Public Clarification Board

Contest Holder
- 11 years ago
Hi, thanks. I would need to score each company from 1-21. This is the part I'm struggling with and is the biggest part of the exercise.
- 11 years ago
saliyachaminda
- 11 years ago
Please give feedback for #1
- 11 years ago