Construct a table of summary statistics (mean, standard deviation, minimum, and maximum values) of the variables....

Construct a table of summary statistics (mean, standard deviation, minimum, and maximum values) of the variables. Explain briefly the summary statistics.

Female	mean	standard	minimum	maximum
education	13.085	2.491490268	6	18
experiernce	17.69	12.1507158	0	49
Wage	8.972	4.910992977	1.75	26.29

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Solution:

We are given the summary statistics on females education experiance and wage, and we have to construct a table of summary statistics (mean, standard deviation, minimum, and maximum values) of the variables and explain briefly the summary statistics.

Female	mean	standard	minimum	maximum
education	13.085	2.491490268	6	18
experiernce	17.69	12.1507158	0	49
Wage	8.972	4.910992977	1.75	26.29

For variable eduction, we see that the mean is 13.085 and standard deviation is 2.4915, this means that on average 13.085 femals are educated with standard deviation of 2.4915.we also found that the minimum value of education is 6 and maximum value is 18.

For the variable experiance, we see that the mean is 17.69 and the standard deviation is 12.1507, this means the on average the experiance level of female is 17.69 with a standard deviation of 12.1507. we also found that minimum experiance level of female is 0 and maximum experiance level of female is 49.

For variable wage, we see that the mean is 8.972 and the standard deviation is 4.91099, this means that the on average the female earns 8.972 with a standard deviation of 4.9109, we also found that the minimum wage a female is 1.75 and the maximum wage is 26.69.

orchestra answered 1 year ago

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