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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
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.)
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