SS DOES EDUCATION PAY? Outgoing high schoolers often face an uncertain reality around their future. The current status of the job market doesn't make these steps easy. Whether it's a college student considering a Master's Degree or a high school student that needs more motivation to finish, is there light at the end of the tunnel? Does more education lead to more pay? Of course, higher pay doesn't equate to higher life satisfaction, but the reality is often a lack of money correlates with a litany of issues related to personal well-being and stress. These sets represent the weekly earnings for different people based on their education level. Doctoral or Professional Degree Master's Degree Dn = {1821, 1665, 2341, 1491, 597, 1056, 2501, 1872} Mn = (1108, 686, 1841, 856, 1313, 1631, 542, 1765, 2158, 1390} Bachelor's Degree Associate's Degree or Some College Bn = {732, 1893, 909, 1110, 2761, 1001, 432, 657, 954, 1209, 530} An = {1541, 1420, 323, 702, 803, 499, 941, 503, 309, 742, 489} High School Diploma Less than a High School Diploma Hn = (425, 997, 1672, 249, 472, 678, 593, 318, 360, 659, 435, 954} Ln = {653, 295, 283, 1030, 576, 426, 391,292,302} Adapted from 2014 U.S. Department of Labor data. PRACTICE: Interpret the sigma notation below to determine the value of each. 1 . 5 2 . 3 . 4. 11 B; = DI= Ai = 1=3 1= 2 1=5 1=4 SKILL: For each of the education levels, write an expression for the mean in sigma notation and compute it. This will determine the average weekly earnings for each education level. Doctoral or Professional Degree Master's Degree 8 Di = 1=1 Bachelor's Degree Associate's Degree or Some College High School Diploma Less than a High School Diploma ANALYSIS: Estimate the average annual salaries for each set of people. Rank them from greatest to least. Assume 52 weeks in a year