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Statics Financial Induced Decision

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Added on  2021-02-21

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|t-Test: Two-Sample Assuming Equal || | |||ances || | | |Earning of men | ||| |in public|in public sector | |that |private sector| |Mean |32276.625|26933.25| |||Variance|1449962.2678571|975692.5| | |4 ||| |Observations |8 |8 ||| |t Stat |9.7038964| | |P(T=t)

Statics Financial Induced Decision

   Added on 2021-02-21

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STATISTICSFINANCIAL
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INTRODUCTIONFinancial statistics refers tocollection of stock, flow of data of all economic sectors onthe financial liabilities and assets. It is used in decision making, data's are collected and mean,median, standard deviation, correlation, quartiles etc. (Zheng and et.al. , 2017). are calculated toanalyse the data and take decisions. It plays a essential role in companies to make effectivepolicies like monetary and fiscal, formulate pricing models for equities, bonds, derivates andcurrencies. Companies use statistics to analyse the data, identify trends and forecast. This isbeneficial for company in making presentations and identifying whether to sell or buy a ninvestment. Present study includes the determination of difference between income of men andwomen in public and private sector, investigation and assessment of hourly pay rates in differentareas of UK by applying median, standards deviation and mean, a comparison of earningsbetween London and Manchester, evaluation of economic data and advice for 2 appropriateinformation about the relation between number of bedrooms and house price in three streets withthe help of pie charts. TASK 1 A. Determine how earnings of men in public sector is different from earnings of women inpublic sector by using hypothesisNull hypothesis H0: There is no significant difference between earnings of men andwomen in public sector.Alternative hypothesis H1: There is a significant difference in between earnings of menand women working in private sector. t-Test: Two-Sample Assuming Equal VariancesEarning of men inpublic sector Earning of women inpublic sectorMean32276.62526933.25Variance1449962.26785714975692.5Observations88Pooled Variance1212827.38392857Hypothesized Mean Difference0df14t Stat9.7038964331P(T<=t) one-tail6.76878422104249E-008t Critical one-tail1.76131013582
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P(T<=t) two-tail1.3537568442085E-007t Critical two-tail2.1447866879Interpretation: From the above table it is interpreted that 1.35 is greater than 0.05 i.e.H0 is accepted which states that there is no significant difference in between earnings of men andwomen working in public sector. It is justified that nowadays government is supporting theconcept of equal pay. There should not be any discrimination on the basis of gender thus everycompany need to give equal pay for same work to men and women. Government has formulatedan equal pay act and most of the countries have implemented this act. Women should also haveequal rights that is why there is no significant difference between the earnings of both men andwomen. Public limited company need to provide equal pay in order to get funds from IPO's, ifcompany is discriminate and does not provide equal pay then public will not invest in thebusiness. B. Determine how earnings of men in private sector is different from earnings of women inprivate sector by using hypothesisNull hypothesis H0: There is no significant difference between earnings of men andwomen in private sector.Alternative hypothesis H1: There is a significant difference between earnings of menand women in private sector. t-Test: Two-Sample Assuming EqualVariancesMen earnings inprivate sectorWomen earnings inprivate sectorMean28096.62520541.25Variance795287.696428572988729.928571429Observations88Pooled Variance892008.8125Hypothesized Mean Difference0df14t Stat15.9993171714P(T<=t) one-tail1.08089238375977E-010t Critical one-tail1.7613101358P(T<=t) two-tail2.16178476751954E3
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