SCENARIO-BASED QUESTIONS Interpreting Quantitative Data ? Rancorps Inc has surveyed employees to determine their interest in learning about financial planning. The table shows the total employee responses, using the raw data and percentages. The
results of this survey will be reported to the director of Human Resources and used to develop a financial planning training seminar for employees. ? Personal Development Need Number Percentage Retirement Annuity 128 32 Traditional and Roth IRA 104 26 Mutual Funds 80 20 Internet Stock Trading 52 13 Effective Charitable Giving 36 9 ? Totals 400 100 Required: ? Write an analysis of this data and explain the results of the survey. This analysis will appear in the written report that will be sent to the director of Human Resources.
Employees were surveyed to determine their personal needs for financial planning. Respondents were asked to indicate their first choice of personal financial development interest from one of the following categories: retirement annuities, traditional and Roth IRA; mutual funds, Internet stock trading, and charitable giving. The number of returned surveys totaled 400. More than half of those who responded indicated an interest in learning about retirement annuities and traditional and Roth IRAs. Employees ranked interest in learning about mutual funds third out of the five choices. Respondents showed little interest in Internet stock trading (13 percent) and even less interest in learning about charitable giving (9 percent).
The results of this survey indicate that of the total number of employees surveyed, 400 have a personal development need for learning about financial planning. For these employees, financial training should focus on retirement annuities and IRAs. The training should also include information on mutual funds, and should briefly touch upon the topics of Internet stock trading and charitable giving.
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