Solution
Pooja answered on
Apr 10 2020
The data regarding average weekly earnings for males, females, and all persons is obtained from Australian Bureau of statistics. The data also describes the industry division for weekly earnings. The data is considered for past 7 years at an interval of 6 months every year.
The summaries data for weekly earnings for all persons starting from May 2010 up till November 2016 at an interval of every 6 months is summarized in the table below.
Earnings; Males; Total cash earnings;
Earnings; Females; Total cash earnings;
Earnings
May 2010
$ 13,400.70
$ 9,137.60
$ 12,035.00
November 2010
$ 13,779.90
$ 9,404.10
$ 12,360.90
May 2011
$ 14,031.80
$ 9,551.00
$ 12,584.00
November 2011
$ 14,364.10
$ 9,747.70
$ 12,886.50
May 2012
$ 14,687.20
$ 9,899.20
$ 13,163.30
November 2012
$ 15,040.10
$ 10,278.20
$ 13,509.30
May 2013
$ 15,282.70
$ 10,496.10
$ 13,720.70
November 2013
$ 13,478.30
$ 9,441.10
$ 12,360.90
May 2014
$ 13,518.30
$ 9,471.70
$ 12,413.30
November 2014
$ 13,602.90
$ 9,559.70
$ 12,477.80
May 2015
$ 13,681.20
$ 9,728.10
$ 12,572.20
November 2015
$ 13,794.30
$ 9,836.50
$ 12,736.30
May 2016
$ 14,076.90
$ 9,879.60
$ 12,929.30
November 2016
$ 14,072.50
$ 10,081.90
$ 12,998.50
The line chart depicting the time series of total cash earnings for all persons is given below.
There is a rising trend in earnings from May 2010 up till May 2013. There is a drastic decrease in the weekly average earning for all persons in November 2013. Afterwards there is a steady increase in weekly average earnings for all persons up till November 2016.
The table of descriptive statistics for average weekly earnings considering all persons is represented in the table below.
mean
$ 12,767.71
median
$ 12,660.15
mode
#N/A
va
219891.5844
sd
468.9259903
range
$ 1,685.70
IQR
$ 551.78
skewness
0.646485508
kurtosis
0.016008563
The mean of Weekly earnings for all persons is $12,767.71 with the standard deviation of 469 units. Standard deviation is a measure...