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Here we look at some analysis on a Computer Technology Company (TechCom) employee and their experience, education and their annual salary. In addition, the company
Here we look at some analysis on a Computer Technology Company (TechCom) employee and their experience, education and their annual salary. In addition, the company examines various departments and their relationship with the employee profiles. The data is based on the records from 2003 to 2010.
a) Summary statistics and the distribution of the employees' salaries for all departments are provided below (Exhibit 6). Exhibit 6 Statistics Annual Salary ($'000) Mean 71.27 Median 68.40 Standard Deviation 30.25 Minimum 12.40 Maximum 163.90 Count 204.00 Range 151.50 First Quartile 51.55 Third Quartile 86.98 Interquartile Range (IQR) 35.43 Coefficient of Variation (CV) 42.45% Exhibit 7 Total 70 60 50 40 Total 30 20 10 0-20 20-40 40-60 60-80 80-100 100-120 120-140 140-160 160-180(i) What type of chart given in the Exhibit 7 Give three essential items/elements that will improve this type of chart.(ii) Using Exhibit 6 and 1', describe the shape of the \"Annual Salaries\" of the employees. (iii) It is hard to state the mode in the continuous data. However, from Exhibit T what would be the annual salaries modal class? Obtain the percentage of this modal class. Show your calculations. (iv) Using Exhibit 7 interpret in context the central tendency of the annual salaries. lI (v) To describe the variation of data, we use Range, interquartile range (IQR) and coefficient of variation (CV). From Exhibit 7, illustrate how we calculate Range, IQR and CV Give interpretations for two of any of these three measures.h) To use the Empirical Rule we assume the data is approximately normally distributed. If this rule is applied to the employee's annual salaries, use Exhibit 1' to answer the following questions. Calculate the annual salary that 2.5% of employees who receive a salary equal to or lower than this value. Show your workings. (ii) What is an approximate probability of a randomly selected employee who receive a salary between $41,022 and $101,527? Show your workingsStep by Step Solution
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