Quantitative Economics

Quantitative economicsWord count including questions : 2600Excluding questions : 2000Excluding tables : 1880Calculate the mean , median , mode , interlingual rendition and standard deviation of yearly earnings of these technicians . You canister return summary statistics using excel , but you are resembling required to calculate these and show your work in the amplification (10 MarksMeanMean is the average of tending(p) observations . The average annual wages of technicians is 56935 .71 . This is metric with the table service of followingMean Sum of salaries of 14 technicians / 14 797100 /14 56935 .71 p normal is the number of the middle decorate of given observations . In this lawsuit median is 56000Mode is the most frequently occurring shelter of the given implant of data . It is again 56000 which are repea (Y- /i-1 mean of Ys 2 .9 / 14-1Standard divergency helps in understanding how widely values are spread with the mean value or average value (Y- /i-1Mean )56935 .71Median 56000Mode 56000VarianceStandard deflection 3464 .236Plot a separate scatter draws of (i ) annual requital against past period of birth (ii ) annual net profit against geezerhood of set up secondhand school education , and (iii ) annual salary against sex activity . What kind of kin each diagram present drive home the scatter diagrams in the growth but comment on these separate relationships in your encompass (10 Marksannual salary against eld of comeThe storear expression of annual salary against years of experience represents a relationship betwixt the salary an mortal technician is receiving and the numbers of experience he has . individual with lesser numbers of years in experience is getting less salary as compared to the person with more experienceannual salary against years of put secon dary school education , andTechnicians who ! pack post secondary school education are get better salaries compared to their colleaguesannual salary against genderOn the basis of scatter diagram it can be inferred that manlike technicians are earning better than that of their womanly counterparts .

in time it in like manner depends on numbers of other factors like years of experience and education . Among the four top earning technicians there is hotshot female with high post school education and 7 .5 years of experienceAssuming that annual salary Y and years of experience X1 , are linked by a parenthoodar relationship , using an overhear computer package Excel account by public Least Square (OLS ) method the impartial far m animalar reversion ?iWrite out the estimated regression equation . befool the estimated regression line on your scatter graph . distinctly interpret your findings i .e . the coefficient estimates ?1 and ?1 . Conduct an appropriate import testify at 5 significance aim I the ramp coefficient ?1 to examine its statistical significance . Comment on your significance test result . Present the scatter diagram and computer print in the appendix (15 marksAnswerThe estimated linear equation for this question isLet regression line is represented byy ox some random noiseTherefore , Regression line is represented byY 748 .58X 52498Intercept ?1 52498Slope ?1 748 .58Here regression equation corresponds to...If you necessity to get a full essay, order it on our website: OrderEssay.net

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