Data Analysis in Business

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
0 10 20 30 40 50 60 70 80 90 100
MA LE_HR_WAGE
Series: MALE_HR_WAGE
Sample 1 900
Observations 850
Mean 27.88296
Median 25.00000
Maximum 104.1667
Minimum 2.342700
Std. Dev. 14.43551
Skewness 1.301249
Kurtosis 5.595216
Jarque-Bera 478.4133
Probability 0.000000
Frequency
Histogram For Males' Hourly Wages
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
10 20 30 40 50 60 70
FEMA LE_HR_WA GE
Series: FEMALE_HR_WAGE
Sample 1 900
Observations 900
Mean 21.70269
Median 19.23080
Maximum 72.91670
Minimum 2.500000
Std. Dev. 11.10912
Skewness 1.418711
Kurtosis 6.040881
Jarque-Bera 648.6718
Probability 0.000000
Histogram For Females' Hourly Wages
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 to Goos and Meintrup (2016), z-statistic is given by
z= X −μ
s
√ n
,
X =sample mean=27.883 , μ= population mean=830 , n=sample ¿ 850 , s=sample standard deviation=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
The p-value of -1619.945 from z-tables is 0.00
Determination of the critical value of z-statistics at α =0.05 from z-tables
The critical value is 1.96.