Statistical Analysis : Household Incomes

Introduction

The objective of this analysis is to obtain meaningful descriptive statistics with the 50,000+ cases obtained from the Bureau of Labor Statistics dataset. This dataset includes the following variables

ID: Identification variable (Nominal variable)

AGE: Age in years (Ratio variable)

EDUC: Education level (1 = Lower than HS, 2 = Some HS, 3 = HS, 4 = some college but not bachelor’s degree, 5 = Bachelor’s degree, 6 = Postgraduate) (Ordinal variable)

SEX: Gender of the subject (1 = Male, 2 = Female) (Nominal variable)

EARNINGS = Amount earned in $1000’s (Ratio variable)

JOB = Type of Job (5 = Private sector, 6 = Government, 7 = Self-Employed) (Nominal Variable)

Descriptive statistics

The following descriptive statistics and histogram are obtained for the variable EARNINGS:

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Solution: The downloadable solution consists of 11 pages, 330 words and 15 charts.
Deliverable: Word Document