Rancorps Inc. conducts a survey of its employees to determine their interest in learning about financial planning. The given table shows the data of the responses. The results of this survey will be reported to the director of human resources and will be used to develop a financial planning training seminar for the employees.
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$$\begin{array}{lcc}\begin{array}{l}\text{ Personal }\\ \text{ Development Need }\end{array}& \text{ Number }& \text{ Percentage }\\ \text{ Retirement Annuity }& 128& 32\\ \begin{array}{l}\text{ Traditional and Roth }\\ \text{ IRA }\end{array}& 104& 26\\ \text{ Mutual Funds }& 80& 20\\ \begin{array}{l}\text{ Internet Stock }\\ \text{ Trading }\end{array}& 52& 13\\ \begin{array}{l}\text{ Effective Charitable }\\ \text{ Giving }\end{array}& 36& 9\\ \text{ Total }& 400& 100\end{array}$$
Write an analysis of this data, and explain the results of the survey. The analysis will be included in the written report that will be sent to the director of human resources.
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Answers will vary. The employees of the company were surveyed to determine their interest in learning about financial planning. Respondents were asked to indicate their choice from one of the following five categories: retirement annuities, traditional and Roth IRA, mutual funds, Internet stock trading, and charitable giving. The number of respondents was 400. More than half of the respondents indicated an interest in learning about retirement annuities and traditional and Roth IRAs. Interest in learning about mutual funds was ranked third. Respondents showed little interest in learning about Internet stock trading (13 percent) and charitable giving (9 percent).
The results of this survey indicate that the employees have an interest in 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 discuss Internet stock trading and charitable giving.