Study On Compensation factor of Industrial Distribution (ID)SECTION AGROUP-9SUBMISSION DATE: 21/09/2012NAMES:Vikash Kumar (45)NikhilTajindarVipulSheikhCASEFor the last 10 years Industrial Distribution has been tracking compensation of industrial distribution (ID) professionals. Results for the 358 respondents in the 1997 Annual Salary Survey showed that 27% of the respondents work for companies with sales over $40 million, with the typical ID professional working for a $12 million firm. Those who work for small to mid-sized companies (between $6 million and $20 million) report higher earnings than those in larger firms. The lowest paid employees work for firms with sales of less than $1 million. The typical outside salesperson made $50,000 in 1996 and the typical inside salesperson earned just $30,000 (Industrial Distribution, Nov 1997).Suppose that a local chapter of ID professionals in the greater San Francisco area conducted a survey of its membership to study the relationship, if any, between the years of experience and salary for individuals employed in outside and inside sales positions. On the survey, respondents were asked to specify one of the three levels of years of experience: low (1-10 years); medium (11-20 years); and high (21 or more years). A portion of the data obtained is as follows and the complete data set consisting of 120 observations is available.DETAILS:Goal: Use descriptive statistics to summarize the data.