The Artsy Corporation Essay

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Table of Contents Introduction___________________________________________________________3 PART 1: Descriptive Statistics__________________ __________________________5 Defining Important Terms_______________ ___________________________5 Data Analysis of Pay Rate________ _____________________________________6 Data Analysis of Pay Rate vs. Gender¬¬¬¬¬¬¬¬¬¬¬_______________________________________7 Data Analysis of Grade________________ ________________________________9 Data Analysis of Time within Grade_______________________________________11 PART 2: Regression Analysis____________________________________________ 12 Conclusion___________________________________________________________25…show more content…
The standard deviation is a number that measure the spread of the data in relation to the mean number. It gives us the scatter of the information in terms of percentage, giving us an idea of how close together or separate our full data set is. Data Analysis of Pay Rate Now that we have a better understanding of the concepts we can start analyzing our data table. Our first variable to analyze is pay rate, since it is the one of our concern. The lowest pay rate is \$579 per week, and our highest is \$1552 per week, giving us an average pay rate of \$931 per week. Our first standard deviation is \$229 per week. Basically what this means is that 68% of our data (1st standard deviation) is either \$229 above or below our mean of \$931. Below we have put together a box-whisker plot of the pay rate in order to have a better idea of the salaries at this corporation: Figure 1 In the plot above we are able to come to various conclusions. The first points we have to analyze are our quartiles: • 25% of the employees have a weekly pay rate less than \$762. • 50% of the employees have a weekly pay rate between \$762 and \$1073. • 25% of the employees have a weekly pay rate above \$1073 • Our middle number here is \$865, which means that 50% of our employees make more than this, and 50% make less • The little red box on the right of our data is an extreme outlier which basically