Background: Brandon is a graduating senior interested in finding a job that he e
ID: 3126775 • Letter: B
Question
Background: Brandon is a graduating senior interested in finding a job that he enjoys with good pay. He is graduating with a degree in accounting and looking at two different career paths: becoming an accountant for a large private firm or working for state government. Brandon has found five salary packages for entry-level positions in each career path. His findings are shown below. (Values are continuous!)
Private Firms Salaries(in thousands) State Jobs Salaries (in thousands)
Job#1 48 Job 1 58
Job#2 84 Job 2 62
Job#3 58 Job 3 68
Job#4 92 Job 4 61
Job#5 41 Job 5 68
Number each of your responses.
1.) Report the mean, median, and mode (modal) salary forprivate accounting firms. Indicate which measure of central tendency is the best fit for describing these salaries and why. If a particular measure of central tendency cannot be calculated, briefly indicate why. Round your answer to the nearest hundredth (i.e., two decimal points).
2.) Report the mean, median, and mode (modal) salary for state jobs. Indicate which measure of central tendency is the best fit for describing state job salaries and why. If a particular measure of central tendency cannot be calculated, briefly indicate why. Round your answer to the nearest hundredth (i.e., two decimal points).
3.) Report the range and the standard deviationof private firm salaries. Indicate which measure of variability is the best fit for describing these salaries and why. Round your answer to the nearest hundredth (i.e., two decimal points).
4.)Report the range and the standard deviationof state salaries. Indicate which measure of variability is the best fit for describing of state salaries and why. Round your answer to the nearest hundredth (i.e., two decimal points).
5.). In five to seven sentences, respond to the following questions: Given the information you have calculated about the two different career paths, which seems like the best choice for Brandon? Explain your answer using the raw data, measures of central tendency, and measures of variability you calculated (for example, does knowing the standard influence your opinion of what is the best career path?). Also consider other data that may influence Brandon’s decision.
Explanation / Answer
1)
Variable Mean Median Mode
salary private 64.60 58.00 0
Mean 64.60 Measure of central tendency is the best fit for describing these salaries becauser the mean is usually the best measure of central tendency to use when your data distribution is continuous and symmetrical.
The mode of a set of data is the value in the set that occurs most often. Here Mode is zero.
2)
Variable Mean Median Mode
salary state 63.40 62.00 68
Mean 63.40 Measure of central tendency is the best fit for describing these salaries becauser the mean is usually the best measure of central tendency to use when your data distribution is continuous and symmetrical.
3)
Variable Standard Dev Range
salary private 22.40 51.00
Standard Dev 22.40 measure of variability is the best fit for describing these salaries. The standard deviation is an especially useful measure of variability when the distribution is normal or approximately normal.
4)
Variable Standard Dev Range
salary state 4.45 10.00
Standard Dev 4.45 measure of variability is the best fit for describing these salaries. The standard deviation is an especially useful measure of variability when the distribution is normal or approximately normal.
I unable to give you answer for the 5th part. Sorry for the inconvenience!
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