Preview

Salary Comparison and Education Level

Better Essays
Open Document
Open Document
899 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Salary Comparison and Education Level
Salary Comparison and Education Level It has been stated over the years the higher one goes in education the greater the salary one can achieve. Is that just what some people have said over the years or is there some truth to this statement? Over the past few weeks Learning Team C has used the data sets of wages and wage earners to compare salary levels in men versus women and to compare years in education versus salary level. Through data research Learning Team C stood on the findings that men to indeed make more than women, and that the higher the degree one obtains, the higher the salary received and it would be financially beneficial to the individual. This week the learning team will again look at salary and education via regression to compare the significance years in education has on salary level.
Research Question Is there a relationship between a person’s education level and their respective annual salary? This study will evaluate years in education versus salary level to predict if higher education coincides with higher pay. First a scatterplot analysis will be preformed which will show if there is a positive or negative correlation between years in education versus salary level. Next, a regression analysis will be performed to make a prediction for the expected salary level of (x) number of years in education.
Data Tables: Annual Wage versus Years in Education
Wage
Ed
19388
6
49898
12
28219
12
83601
17
29736
8
50235
16
45976
12
33411
12
21716
12
37664
18
26820
18
29977
16
33959
17
11780
11
10997
14
17626
12
22133
16
21994
12
29390
13
32138
14
30006
16
68573
16
17694
8
26795
7
19981
4
14476
12
19452
13
28168
13
19306
9
13318
11
25166
12
18121
12
13162
12
32094
12
16667
12
50171
12
31691
12
36178
12
15234
12
16817
12
22485
12
30308
12
11702
14
11186
12
12285
12
19284
16
11451
12
57623
15
25670
13
83443
17
49974
16
46646
5
31702
12


References: University of Phoenix. (2008). Retrieved October 12, 2008, from University of Phoenix, Week Two, Resource. Wages and Wage Earners Data Set. RES342-Research and Evaluation II course web site. Doane, D.P., Seward, L.E. (2007). Applied Statistics in Business and Economics. New York, NY. McGraw-Hill Sokal & Rohlf (n.d.). Critical values for correlation coefficient r. Retrieved October 12, 2008 from http://www.ecowin.org/aulas/resources/stats/correlation.htm
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Better Essays

    Week 5 Qnt351
    • 1843 Words
    • 8 Pages

    Week 5 Qnt351

    Lind, D. A., Marchal, W. G., & Wathen, S. A. (2011). Basic statistics for business and economics (7th ed.). New York, NY: McGraw-Hill/Irwin.…

    • 1843 Words
    • 8 Pages
    Better Essays
    Read More
  • Better Essays

    QNT/351 Week two paper
    • 977 Words
    • 4 Pages

    QNT/351 Week two paper

    McClave, J. T., Benson, P. G.,& Sincich, T. (2011). Statistics for business and economics (11th ed.).Boston, MA: Pearson-Prentice Hall…

    • 977 Words
    • 4 Pages
    Better Essays
    Read More
  • Best Essays

    Data Collection Paper Res341
    • 2176 Words
    • 9 Pages

    Data Collection Paper Res341

    Lind, Marchal, and Wathen. (2008). Statistical techniques in business & economics (13th ed.). New York, NY: McGraw-Hill…

    • 2176 Words
    • 9 Pages
    Best Essays
    Read More
  • Good Essays

    Res 342 - Exec. Summary
    • 849 Words
    • 4 Pages

    Res 342 - Exec. Summary

    Over the years there has been much discussion and debate about earned wages between those with years of experience and those with years of education and whether one promotes higher wages than the other. “Education does indeed increase earning potential according to the Census Bureau, individuals with post graduate professional degrees can expect their lifetime earnings to be twice those of individuals with bachelor’s degrees and many times greater than the earnings of people with high school diplomas” (McMillion, 1994, p. 1). Team A has chosen the wage and wage earners data set. The Team has determined the independent variables to be years of experience, which range from zero to 54 years, and years of education that ranges from four to 18 years. The dependent variable would be the wage received by each individual. This research was from a survey of 100 people.…

    • 849 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Ops-571 Assignment
    • 1146 Words
    • 5 Pages

    Ops-571 Assignment

    Lind, D., Marchal, W., & Wathen, S. (2010). Statistical techniques in business and economics (14th ed.). New York: McGraw-Hill.…

    • 1146 Words
    • 5 Pages
    Better Essays
    Read More
  • Powerful Essays

    Analyzing and Interpreting Data – BIMS, Inc.
    • 1790 Words
    • 8 Pages

    Analyzing and Interpreting Data – BIMS, Inc.

    References: McClave, J. T., Benson, P. G., & Sincich, T. (2011). Statistics for business and economics (11th…

    • 1790 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    HRM 326 Week 2 DQ 1
    • 418 Words
    • 3 Pages

    HRM 326 Week 2 DQ 1

    Most people know that their college education will be a determining factor in their earnings a...…

    • 418 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Paper
    • 2300 Words
    • 10 Pages

    Paper

    References: Berenson, M., Krehbiel, T., & Levine, D., (2010). Business Statistics: A First Course. Prentice Hall. Upper Saddle River, NJ.…

    • 2300 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Good Essays

    Richard III Villainy Quotes
    • 801 Words
    • 4 Pages

    Richard III Villainy Quotes

    Richard III is an historical play written by William Shakespeare during the reign of Queen Elizabeth I, depicting the contentious rise to power of King Richard III of England and his short reign as King. Richard III is the final play in a cycle of eight plays written by Shakespeare dramatizing English history from 1398 to 1485. The theme of villainy is intricately explored throughout the play as one of its main themes. Shakespeare effectively explores the theme of villainy through the use of dramatic techniques such as character soliloquies and literary techniques such as symbolism. These techniques enable Shakespeare’s ideas of villainy to be developed and explored, which…

    • 801 Words
    • 4 Pages
    Good Essays
    Read More
  • Better Essays

    Business Modeling
    • 2408 Words
    • 16 Pages

    Business Modeling

    Aczel,A & Sounderpandian,J (2009). Complete Business Statistics 7th edition (592). : Mc Graw Hill Education.…

    • 2408 Words
    • 16 Pages
    Better Essays
    Read More
  • Good Essays

    Career Comparison
    • 943 Words
    • 4 Pages

    Career Comparison

    In this assignment, students will work independently to write a short formal report that analyzes a situation and provides recommendations. This course project will satisfy TCOs 4, 6 and 8.…

    • 943 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Bartleby the Scrivener by Herman Melville
    • 618 Words
    • 2 Pages

    Bartleby the Scrivener by Herman Melville

    Herman Melville's Bartleby the Scrivener is perhaps more relevant today than when he wrote it in 1853. Bartleby is the account of a talented young scrivener who possesses great talent and potential in his career of duplicating and composing documents. The tale takes us to the upscale Wall Street area of New York City, among the buildings and law offices of the city. The young Bartleby is thrown into the typical office drudgery associated with the type of employment he was seeking.…

    • 618 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Should Everyone Attend College Essay
    • 617 Words
    • 3 Pages

    Should Everyone Attend College Essay

    The career choice as the authors stated “the choices a student makes about his or her field of study and later career can have a larger impact on what they get out of the career”. (Page 214, Para 14) The effectiveness the authors have on readers is very effective to help readers understand the concept of picking a valued career choice. The statistics the author includes is a work life earnings and includes the highest paid major is engineering and math. This was very difficult to understand because education was last on the pay scale earning the lowest. Education is a major field of study and it reminds readers that the degree chosen sometimes doesn’t meet the equal pay deserved. The effective logical appeal the authors used was “fourteen percent of people with a high school diploma make at least as much as those with a bachelor’s degree, and seventeen percent of people with a bachelor’s degree make more than those with a professional…

    • 617 Words
    • 3 Pages
    Good Essays
    Read More
  • Better Essays

    Career Comparison
    • 1760 Words
    • 8 Pages

    Career Comparison

    Here is the report you requested comparing two career choices and recommending the best one for you.…

    • 1760 Words
    • 8 Pages
    Better Essays
    Read More
  • Good Essays

    The Wage Gap In America
    • 692 Words
    • 3 Pages

    The Wage Gap In America

    Every day, from almost every company, in every part of the world, millions of men and women receive unequal wages in their day to day careers. Even here in America, with over 77,000 workers ("Workers Paid Hourly Rates" 1), there are drastic differences between ranks. "In 2014, female full-time workers made only 79 cents for every dollar earned by men" ("Equality and Discrimination" 1). However, the diversity occurs not just between men and women, but also between races. The female wage gap appears largest for Hispanic and Latina women, who were paid only 54% of what white men, were paid in 2014 (Hill 4). While countless Americans may not see an obstacle, that is exactly the issue. In order for a healthier nation to exist with a better basis…

    • 692 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics