Statistics - Essay Example

Summary
Well being index and quality of work and life are very important indicators, which determine potential capital and human resource inflow in any region. It is natural to assume that regions with high well being index and better life and work quality will be attractive destination…

Extract of sample "Statistics"

Download file to see previous pages This has been done to ascertain where Maryland stands among all the regions of USA especially with respect to Virginia and Pennsylvania in terms of well being index and work and life quality. The findings of the statistical analysis is presented and discussed in this paper.
Data on Well Being Index and Quality of Work and Life for 50 states and / or congressional district was collected and recorded in MS Office Excel spreadsheet. Descriptive Statistics for well being index and work and life quality was then obtained using MS Office Excel Data Analysis Tool. This was done to get a feel of these indexes i.e. well being index and work and life quality across all the 50 states / congressional districts of USA. The findings of this analysis are presented in Table 1, in the Appendix. It is better to examine and discuss the important statistics obtained from this analysis for each of these indexes – well being index and work and life quality.
Summary statistics of well being index for all the 50 states / congressional districts is presented in Table, in the Appendix. The values for mean, median and mode are 65.47, 65.75 and 66.3 respectively. These parameters are measures of central tendency i.e. the central value around which actual well being index of different states lies. Another important statistics of well being index is standard deviation. Its value is 1.69. This is a measure of dispersion of the actual values around the mean value.
Now let us examine, whether Maryland lies among all the 50 regions with respect to well being index. Well being index for Maryland is 67.1% (Table 2, in the Appendix). This means Maryland has above average well being index among all the 50 regions under consideration. It is important to examine whether the difference from the mean is significant. To do so 95% confidence interval for mean well being index was determined. This confidence interval is
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