Solution) Education and Salary. Consider the following table on mean earnings of men and women in 1997 in term
Question: Education and Salary. Consider the following table on mean earnings of men and women in 1997 in terms of education (U.S. Census Bureau, March 1997).
EDUCATION (YEARS EARNINGS, EARNINGS, AFTER HIGH SCHOOL) MEN WOMEN
No HS diploma $17,826 $10,421
0 (HS diploma only) $27,642 $16,161
2 (Associate’s degree) $31,426 $18,933
4 (Bachelor’s degree) $46,702 $28,701
6 (Advanced degree) $74,406 $42,625
Overall $34,705 $20,570
SOURCE: TIME Almanac, 1998.
a. Make scatter diagrams for both men and women, with earnings on the horizontal axis and education on the vertical axis. For purposes of graphing, use 2 years (after high school) for the category “No HS diploma.”
b. Briefly characterize each correlation in words and estimate the correlation coefficient for each case.
c. What general conclusions can you reach from the two correlations? Explain
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