Running Head: Data Analysis Data Analysis in Business Student’s Name Institution Affiliation
Data Analysis in Business Question One i.Histograms for hourly wages for males and females Below are the two histograms with the associated descriptive statistics for the hourly wages for the two genders 0 20 40 60 80 100 120 140 160 0102030405060708090100 MALE_HR_WAGE Series:MALE_HR_WAGE Sample1900 Observations850 Mean27.88296 Median25.00000 Maximum104.1667 Minimum2.342700 Std. Dev.14.43551 Skewness1.301249 Kurtosis5.595216 Jarque-Bera478.4133 Probability0.000000 Frequency HistogramForMales'HourlyWages From the chart, the mean and standard deviation of males’ hourly wages are 27.883 and 14.436 respectively. 0 20 40 60 80 100 120 10203040506070 FEMALE_HR_WAGE Series:FEMALE_HR_WAGE Sample1900 Observations900 Mean21.70269 Median19.23080 Maximum72.91670 Minimum2.500000 Std. Dev.11.10912 Skewness1.418711 Kurtosis6.040881 Jarque-Bera648.6718 Probability0.000000 HistogramForFemales'HourlyWages Frequency
Data Analysis in Business From the chart above, the mean and standard deviation of females’ hourly wages are 21.703 and 11.109 respectively. ii.Hypothesis Test to prove that the mean hourly wage for all males is less than 830: Hypotheses: H0:μ=830 H1:μ<830 Computation of z-statistic According toGoos and Meintrup (2016),z-statistic is given by z=X−μ s √n , X=samplemean=27.883,μ=populationmean=830,n=sample¿850,s=samplestandarddeviation=14.436 Therefore, z-statistic will be given by z=27.883−830 14.436 √850 =−1619.945 Determination of the p-value of z-statistics Thep-valueof -1619.945 from z-tables is 0.00 Determination of the critical value of z-statistics atα=0.05from z-tables The critical value is 1.96.
End of preview
Want to access all the pages? Upload your documents or become a member.