Question - 1

(1) Population: Economics Web Institute is interested in all US Workers wages in 2015.
Sample: 534 US workers randomly selected.
(2) Graphic Analysis
The data shown in the Tables show the result of survey conducted by Economics Web
Institute on US workers in 2015. The survey considered wage which is an example of metric
variable. And it can be explained through the help of Histogram and Boxplot, together with
Descriptive Stat Table and Percentile Table

Graphic and Descriptive Analysis of Education:

A Bar chart is a graphical presentation of the underlying frequency distribution (shape) of a
set of continuous data. Histogram enables inspection of the data for its underlying
distribution (e.g., normal distribution), outliers, skewness, etc.

Total
400

292

200
0

106

95

7
1

EDUCATION

1
2
3
4
5
Grand Total

Frequency

Total
7
292
106
95
31
534

Relative
Frequency

Frequency
1.32%
54.99%
19.96%
17.89%
5.84%
100.00%

31
5

Percentage
Frequency

13.2%
55%
20%
18%
6%
100%

The distribution of 534 workers as shown in this table. The frequency table shows the
number of workers based on the number of years of education. The most occurred number in
the table is 292 which is approximately 55%. This is the value that occurred most in this
table representing mode of the data collected in the survey. Which shows that 292 workers
have 2 years of education. Whereas, 7 workers have 1 year of experience i.e 13.2%. 106
workers being the second highest frequency in the table comprising 20% of population. The
shape of the histogram is symmetric which is skewed towards right and the skewness
statistic is positive.

Graphic and Descriptive Analysis of Wages:

Wage is considered as metric variable. Therefore, Histogram and Boxplot will be used to
analyze them. The table depict that median is 23.5
WAGE
Mean
25.53507
Standard Error 0.344731
Median
23.5
Mode
25
Standard
Deviation
7.958739
Sample
Variance
63.34153
Kurtosis
4.661536
Skewness
1.491998
Range
62.65
Minimum
7.35
Maximum
70
Sum
13610.19
Count
533
which shows that 50% of workers

250
200
150
Frequency 100
50
0

WAGE

Histogram is used to for graphical presentation of data distribution. Histogram is somewhat similar
to bar chart which displays bar heights. In the given scenario it has uni peak variation. IF the shape
of histogram is symmetric then this mean that figures are nearly or close mirror image. From the
above table, mean is between 25.53 which shows average wage of US workers.
If seen from the perspective of BoxPlot following table and diagram should be used to explain.
The below table describes the quartile, median, interquartile, maximum and minimum distribution
per hour. The table has quartile $21/hr, median $23.50/hr, third quartile $28.00/hr, interquartile
$7.00/hr respectively and the maximum wage is $31.00 of the US worker and the minimum is $9/hr.
Boxplot Output
WAGE

First Quartile
21.0000

Median
23.5000

Third Quartile
28.0000

Interquartile Range
7.0000

Object 7

Moderate Outliers ( )
31