Quantitative Economics

Quantitative economicsWord count including questions : 2600Excluding questions : 2000Excluding tables : 1880Calculate the mean , median , mode , part and standard deviation of yearly honorarium of these technicians . You disregard express summary statistics using excel , but you ar also required to calculate these and show your work in the extension (10 MarksMeanMean is the average of effrontery observations . The average annual wages of technicians is 56935 .71 . This is figure with the help of followingMean Sum of salaries of 14 technicians / 14 797100 /14 56935 .71 p Median is the number of the middle set of given observations . In this case median is 56000Mode is the most frequently occurring assess of the given set of data . It is again 56000 which are repea (Y- /i-1 mean of Ys 2 .9 / 14-1Standard Deviation helps in understanding how widely values are dispersed with the mean value or average value (Y- /i-1Mean )56935 .71Median 56000Mode 56000VarianceStandard Deviation 3464 .236Plot a separate scatter diagrams of (i ) annual salary against eld of take in (ii ) annual salary against years of come out secondary school education , and (iii ) annual salary against sexual urge . What kind of family each diagram present demonstrate the scatter diagrams in the appendix but comment on these separate relationships in your report (10 Marksannual salary against years of experienceThe foldar expression of annual salary against years of experience represents a relationship surrounded by the salary an individual technician is receiving and the numbers of experience he has . soulfulness with lesser numbers of years in experience is getting less salary as compared to the person with more experienceannual salary against years of post secondary school education , andTechnicians who have got post secondary school education are transmit better salaries compared to their colleaguesannual salary against genderOn the basis of scatter diagram it can be inferred that Male technicians are earning better than that of their female counterparts .

besides it also depends on numbers of other factors like years of experience and education . Among the four top earning technicians there is iodine female with high post school education and 7 .5 years of experienceAssuming that annual salary Y and years of experience X1 , are linked by a statementar relationship , using an bewitch computer package Excel forecast by Ordinary Least Square (OLS ) method the elemental linear regression ?iWrite out the estimated regression equation . suck up the estimated regression line on your scatter graph . understandably interpret your findings i .e . the coefficient estimates ?1 and ?1 . Conduct an appropriate logical implication test at 5 significance take I the slope coefficient ?1 to examine its statistical significance . Comment on your significance test result . Present the scatter diagram and computer print in the appendix (15 marksAnswerThe estimated linear equation for this question isLet regression line is represented byy ox some random noiseTherefore , Regression line is represented byY 748 .58X 52498Intercept ?1 52498Slope ?1 748 .58Here regression equation corresponds to...If you ask to get a full essay, order it on our website: Ordercustompaper.com

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