Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A career guidance counsellor for a secondary school wanted to provide up-to-date information for students considering careers in law and accounting as to the salary

image text in transcribedimage text in transcribed
A career guidance counsellor for a secondary school wanted to provide up-to-date information for students considering careers in law and accounting as to the salary they can expect to get if they embark on the chosen profession. Relying on informal contacts she had, she managed to get data on the annual salaries of people who have worked in their respective professions for about 5 years. The yearly salaries (in thousands of dollars) of the 60 people (30 from each profession) are summarized in the boxplots and table below. Descriptive Statistics N Mean StDev Minimum Q1 Median 03 Maximum IOR Mode Lawyers 30 56.54 29.27 37.2 42.7 474 608 1444 18.1 43.6 Accountants 30 61.00 36.59 34.6 374 46.6 728 160.0 35.4 (a) Based on the boxplots, comment on the shape of the two distributions and any unusual features. (3 marks) (b) By choosing an appropriate measure of the centre of the data, compare the salaries of these two groups of professionals. Give a reason for your choice of measure. (3 marks)(a) By choosing an appropriate a measure of dispersion this time, compare the salaries of these two groups of professionals. Give a reason for your choice of measure. (3 marks) (b) Suppose a student was only interested in a career for its earnings. Between the two professions given above, which profession would you recommend to the student and why? (Support your answer with statistical reasoning.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Probability And Statistical Inference

Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman

10th Edition

013518939X, 978-0135189399

More Books

Students also viewed these Mathematics questions

Question

=+46. Monthly gas prices, part 3. Using the data from Exercise

Answered: 1 week ago