Comparisons of Means Summary 2022

Comparisons of Means
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Part (A) Descriptive summary for weekly income
Descriptive statistics consist of measures that describe the nature of the data, and these measures
include measures of central statistical measures and measures of dispersion. Central measures
include the mean, median, and mode, while measures of variation include variance, standard
deviation, minimum, maximum, and range. Part one of this research project is meant to use
descriptive analysis to describe the weekly income wage.
Table 1.1: Descriptive summary for weekly income
Table 1.1 above shows the descriptive summary for weekly income. From the table, the average
weekly income for the respondent is 672.81 ± (7.512). The median weekly income is given as
250 significantly less than the mean weekly income, and the standard deviation for weekly
income is 972.643. The minimum weekly income recorded from the survey is zero dollars, while
the maximum weekly income recorded is 34523 dollars giving a weekly income range of 34523.

The interquartile range for weekly income is 1122. The 95% confidence interval for the mean
has an average lower bound for the weekly income of 658.07, and an average upper bound of
687.54. The results indicate that the average weekly income for the respondents in the survey lies
between 658 dollars and 687 dollars. Table 1.1 also shows that a skewness value of 5.821, which
is significantly greater than one hence indicating that the data is highly skewed. The kurtosis
value given as 133.02 is also too large and in this case, also indicates that the data present in the
variable weekly income is skewed, thus said not to follow the normal distribution curve. If the
data is skewed, it only suggests that it is not normally distributed with mean zero and standard
deviation one.
Part (B) Standard Values
Table 2.1: Descriptive summary for the standardized weekly income
Table 2.1 above shows a descriptive summary of the weekly income standardized values. The
minimum weekly income standardized value is recorded as -0.69173 while the maximum weekly