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Data Project - Essay Example

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We used secondary data to evaluate our study collected by U.S. Bureau of Labor Statistics and we studied the salaries to workers in management level (U.S. Bureau of Labor Statistics). I…
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Data Project
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Download file to see previous pages The Figure 2 shows the outliers of the mean is 180390 as it falls away from the normal curve as shown in Figure one; this is determined by 1.5*IQR on the whisker plot. The mean annual salary in the US is $97486.
Table 1 shows that the arithmetic mean of annual wage is $97486 with a sample population size N =61, the measure of dispersion of the data SD = 23362; the variation indicates the dispersion figure from the mean.
The Range = 123270 shows the difference in salaries scales between the maximum or the highest earning manager and the minimum or the lowest earning manager. The Skewness = 1.04 shows that the data is skewed to the right with Leptokurtic distribution as Kurtosis = 3.75, this shows that the values are concentrated to the mean.
Table 2 shows the minimum wage of 57120 and a max of 180390, the values shows a measure of viability of IQR = 26270 and a range of 123270. The measure of central tendency is well measured using median = 99660. I preferred the use of 5-number summary because it gives me an easier way to visualize the central tendency of the data.
The US salaries in top senior management of C-Level and top managers has a great variation between the lowest paid and the highest paid. The Average wage is 97 $97000 with most managers earning approximately the same figure with measure of central tendency indicating the same.
There is a outliers earnings that are way above the normal earnings. The statistical package Minitab made me learn how to manipulate the data more easily with more capabilities of giving us more accurate answers, clear graphs and ...Download file to see next pagesRead More
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