Question
i. Calculate the summary statistics (highest, lowest, median, mean, range, variance, and standard deviation for: a. The unemployment rate in Australia (male, female and total)
i. Calculate the summary statistics (highest, lowest, median, mean, range, variance, and standard deviation for: a. The unemployment rate in Australia (male, female and total) and Australian price level using data from 1981 to 2020. b. Split Australia's unemployment (male), unemployment (female), and unemployment (total) data into decades and calculate the mean values for each. c. Compare the decade-wise mean values for unemployment (male), unemployment (female), and unemployment (total) using any appropriate graph (construct only one graph combined all). d. Provide empirical evidence on the differences in the unemployment rates (male, female, and total) across various decades (use the graph (part c) to link with this discussion). e. Construct the histogram for the unemployment rate in Australia (male, female and total) and the Australian price level. Compare and contrast the data distribution and interpret the histogram's shape in each case separately. ii. Calculate a simple index showing a change in unemployment total and price level from 1981 to 2020, using 2000 as the base year. What conclusions can you draw from the results? iii. Draw a scatter plot with a trend line using: a. Price level and unemployment (total) 1 Data has been extracted from World Development Indicators, WDI https://databank.worldbank.org/source/world-development-indicators b. Price level and unemployment (male) c. Price level and unemployment (female
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