16. Central tehdency ahd distFibution shape Aa Aa The Bureau of Labor Statistics

Question

16. Central tehdency ahd distFibution shape Aa Aa The Bureau of Labor Statistics (BLS) is the main fact-finding agency of the U.S. government in the fields of labor economics and statistics. Data from the Current Population Survey (CPS), conducted by the BLS and the Census Bureau, have been used to indicate a downward trend in retirement age. [Source: Gendell, M. (October 2001) Retirement age declines again in the 1990s. Monthly Labor Review, 124(10), 12-21.] The following DataView tool displays a hypothetical data set consisting of annual income (as measured in thousands of dollars) and age of retirement for 100 retirees Use the tool to view the histogram of the retirement ages of the retirees, and answer the questions that follow (Hint: Click either one of the Variable sliding panels in the bottom left-hand corner of the tool screen. Click the downward-pointing arrow next to Select Variable, and select the variable Retirement Age. Click the Histogram button in the middle of the left-hand side of the screen to view a histogram of its distribution.) Data Set Retirement Frequency Retirement Age35 30 25 20 Variable Retirement Age Quantitative Observations 100 Missing 0 Values 100 Statistics Box Plots> Retirement Age in years Variable

Explanation / Answer

For the variable Retirement age, the blanks are : left tail , left-skewed.For second set of blanks, the statistics button need to be pressed for all information. Per rule, for left-skewed/negatively skewed distribution mean is less than the median.

For the variable Income, the blanks are : right tail, right skewed. From the dispalyed statistics, mean is 71.2 thousand of dollars,median is 70.6 thousand of dollars. mean is greater than median.

For symmetrical distribution, mean is equal to median. For positively skewed distribution mean is usually greater than median. When distribution is negatively skewed, the mean is usually lesser than median.

blanks: more. median

[For skewed distribution, mean is pulled towards the outliers, relative to median]

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