Given the skewed nature of salary data, comparisons are commonly made between me

Question

Given the skewed nature of salary data, comparisons are commonly made between medians instead of means. a (3 points] The 2014 American Community Survey revealed that the ratio of median female to median male earnings for all full-time workers age 25 and older with Bachelor's degrees was 0.791. Calculate the ratio for our filter 2014 data set. (Note that Eis the symbol for a sample median.) How Male does this ratio compare to the overall ratio reported ab How could you account for the difference? female X SS Soo X Male

Explanation / Answer

Solution: The Population salary median is 0.791 or 79% & The sample salary median is found to be.885 or 88%

There would always a difference since the sample is used in caclulating the salary. The salary median will always be around the population median with some standart deviation. Thus you need to find the standard deviation of sample as well.

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