Question

Part 1 – Calculate and use descriptive statistics to compare hourly wages for each of the education levels. Be sure to include the mean, standard deviation and margin of error with 95% confidence for each of the 3 levels (9 calculations). These calculations range in value from 3-4 points each for a total of 33 points. Note: See page 293 for the margin of error formula.

 

Part 2 – Construct and interpret 95% confidence intervals for the mean hourly wage at each education level. There should be an upper and lower number for each of the 3 levels. The end result should be 6 numbers which are valued at 3 points each for a total of 18 points.

You are expected to use Excel functions for the majority of your calculations. 10 points are allocated to the use of Excel. I will check within the cells to find/confirm your formulas and summation. An additional 10 points are allocated to showing your work (calculations). If you use Excel you receive the combined amount (20 points). If you perform the calculations by hand and show your work on paper you will receive only 10 points. Use Excel! It is a great tool that will serve you well in your future endeavors. The case study is valued at a total of 100 points.

Bachelor's Degree	High School Diploma	No High School Diploma
22.50	12.68	11.21
19.57	11.23	8.54
24.13	19.53	12.52
27.23	9.85	9.06
27.00	15.76	14.21
28.60	12.31	13.40
16.85	12.27	11.46
22.70	8.57	11.22
26.69	11.06	9.56
20.14	11.47	9.43
21.33	13.38	10.98
18.33	9.85	10.41
17.86	12.35	11.73
20.47	10.68	8.28
21.08	10.70	8.59
17.05	11.54	13.30
21.70	13.55	7.91
22.19	17.80	12.28
23.80	15.70	10.72
22.30	17.50	15.97
22.42	6.50	10.58
22.29	8.98	9.59
27.43	12.14	10.92
23.14	8.83	9.70
22.84	13.02	7.64
21.86	8.90	10.39
29.32	13.80	4.62
26.00	21.67	13.04
30.53	8.74	6.29
21.44	7.47	10.27

Answer 1