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Wage And Wage Earners Essay

2713 words - 11 pages

In the data that Team A reviewed it was discovered that education can make a difference in the amount of money that a person will make on average in a year’s time. Team A looked at people from different industries and levels of the company. Team A did not single out the participants by sex or race. The goal of this paper was just to focus on the annual wages that the participants made in a year based on the amount of education that they had received in their life. Team A will show that education does make a difference in the pay that you will receive.

The objective of our team paper was to determine was if the amount of education a person has will affect the amount of income ...view middle of the document...

The sample participants were primarily employed in clerical, support or other occupations. Most survey contributors were southern residents and were primarily non-white, non-female, married and Hispanic. Using this data Team A will be working to solve the following: If the number of years of education, post high school, has an impact on the amount of wages an individual can earn, then those who have completed more than twelve years of education will have a higher average wage than those who have twelve or less ears of education.
Team A will work to determine if the number of years of education has an impact on the amount of wages that a worker could potentially earn. Team A will use the Wages and Wage Earners Data Set to conduct their research. The Wages and Wage Earners Data Set contains data gathered from a random sampling of 100 wage earners. The average annual wages of those who participated in the survey is $30,800 per individual with an average age of 39 years. The average number of years of education for each participant was 10 years or more with an average of 20 years of experience. The majority of the sample participants were not employed in the manufacturing or construction industries and were non-union workers. The sample participants were primarily employed in clerical, support or other occupations. Most survey contributors were southern residents and were primarily non-white, non-female, married and Hispanic. Using this data Team A will be working illustrating the hypothesis in a verbal and numerical form emphasize the relationship in the number of years of education, post high school has an impact on the amount of wages an individual can earn. Furthermore, those who have completed more than twelve years of education will have a higher average wage than those who have twelve or less years of education.
H0: The participates in the data set have completed 12 years of education earn an average of less than $35,000 a year in wages.
Ha: The participates in the data sets have completed more than 12 years of education earn an average grater than $35,000 a year in wages.
H0: µ$35,000
Five Step Hypothesis Test:
During the research process, Team A had to go through five steps in order to identify and the hypothesis and make the decision. The first step Team A took as part of the five step hypothesis testing was establishing the Null hypothesis as well as the Alternative hypothesis. This step led the team to conclude that the Null hypothesis that employees will, in fact, earn more if they further their education after completing high school and the Alternative hypothesis being that they will earn as much or less of those who do not. The second step was to select the level of significance. In this step Team A came to the conclusion that the level of significance was .05, therefore making our confidence level stand at 95%. Step three consisted of us selecting an appropriate test statistic. In step three, the test...

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