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Business -----Summarizing Data - Statistics Project Example

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According to the report of AMA, we can conclude the following. From the period of 1980s to 2000 various changes have been noticed in the population structure. During the period population has grown by 5.2%. During the period, population growth rate of men is around 7% and for women it is around 3.3%…
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Business statistics-----Summarizing Data
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According to the report of AMA, we can conclude the following. From the period of 1980s to 2000 various changes have been noticed in the population structure. During the period population has grown by 5.2%. During the period, population growth rate of men is around 7% and for women it is around 3.3%. Seeing this one can assume that population growth stable and firm can have a good market in future.
During the same period income of people has also grown sharply. Overall impact is that median income increase is around 69%. Median income which was around $18000 in 1980s was increased to $42000 in 1990s and to further $62000 in 2000s.
Given this trend income is likely to increase and people now can afford more luxury items. The major increase was in people earning above $40000 and decline in the income below that range. This shows that this income is becoming a base-line income with time.
During the same period there has been increase in Asian ethnicity in the USA and decrease in other ethnicities. So, in developing country those snacks the taste of Asian community should be under great consideration and as they have increased by about 60% in 2000 when comparing with 1990s.
Similarly there has been a trend that people are moving towards buying their own house than living in rented house. This shows increase in Living Standard and Disposable income which mean that people will be able to afford the snacks if they are good.
As far as employment statistics are concerned there has been an increase in absolute number of people employed but percentage wise unemployment has risen which is not a good indicator. Those in work, Most of them drive themselves to work alone. This shows the increase in living standard as people are not using motor cycles to work and very few of them taking public transport to work. Most of the people take around 20-34 minutes to reach their work. Around 35% of the people in the USA are employed in either financial institution or in tertiary sector. This shows the USA economy is highly developed. Most of the people who work have either management jobs or are business operation specialists.
It is clear from the income survey that people in the USA are well to do. Each household on average earns around $115000 per anum. Each person earns around $69000 on average. Majority of the population in USA earns between $75000 and $200000. Most of the people in their middle age i.e from 40 to early 50s earning the max amount. It also shows that people when they start their career they earn low salaries but as their experience increases and more time they are in the job their salaries start increasing. They reach their maximum salaries in their middle ages. But after which salaries start declining and it reaches to a minimum once they are above 65 years of age.
Apart from all these variable inflation and cost of living should also be considered to reach at a better conclusion. Read More
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