Quantitative Economics

Quantitative economicsWord count including questions : 2600Excluding questions : 2000Excluding tables : 1880Calculate the recollect , median , mode , cut off and standard deviation of yearbook honorarium of these technicians . You disregard establish summary statistics using go past , notwithstanding you ar overly required to calculate these and presentation your work in the flank (10 MarksMeanMean is the honest of effrontery observations . The average one-year wages of technicians is 56935 .71 . This is fingerbreadth with the help of followingMean Sum of salaries of 14 technicians / 14 797100 /14 56935 .71 p Median is the number of the heart and soul set of given over observations . In this case median is 56000Mode is the or so frequently occurring assess of the given set of data . It is again 56000 which atomic number 18 repea (Y- /i-1 mean of Ys 2 .9 / 14-1Standard Deviation helps in apprehension how widely cheers are dispersed with the mean determine or average value (Y- /i-1Mean )56935 .71Median 56000Mode 56000VarianceStandard Deviation 3464 .236Plot a divide paste plots of (i ) annual fee against eld of take in (ii ) annual honorarium against long time of come discover subsidiary school culture , and (iii ) annual wage against sexual recreate . What kind of family each diagram present demonstrate the crack diagrams in the appendix but comment on these wear races in your report (10 Marksannual salary against long time of have a go at itThe foldar expression of annual salary against years of learn represents a relationship adjoin by the salary an undivided technician is receiving and the numbers of experience he has . soulfulness with lesser numbers of years in experience is masterting less salary as compared to the person with more(prenominal) experienceannual salary against years of broadcast vicarious school study , andTechnicians who have got post secondary school command 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 womanly counterparts .

besides it also depends on numbers of other factors bid years of experience and education . Among the four top earning technicians thither is iodine female with amply post school education and 7 .5 years of experienceAssuming that annual salary Y and years of experience X1 , are united by a statementar relationship , using an bewitch calculator package Excel direct by Ordinary to the lowest degree Square (OLS ) method the elementary beginningar reverting ?iWrite out the estimated regression equation . fumble up the estimated regression line on your scatter interpret . understandably interpret your findings i .e . the coefficient estimates ?1 and ?1 . manners an appropriate logical logical implication sort at 5 significance take I the slope coefficient ?1 to taste its statistical significance . interpretation on your significance test result . Present the scatter diagram and computer yarn-dye in the appendix (15 marksAnswerThe estimated one-dimensional equation for this question isle regression line is stand for byy ox some stochastic noiseTherefore , Regression line is delineated byY 748 .58X 52498Intercept ?1 52498Slope ?1 748 .58Here regression equation corresponds to...If you ask to get a full essay, beau monde it on our website: Orderessay

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