Hourly wage of women aged 35 - 39 yrs What comments would you have on skewness s
ID: 1169370 • Letter: H
Question
Hourly wage of women aged 35 - 39 yrs
What comments would you have on skewness statistic and kurtosis statistic?
The following is a summary statistic of hourly wages of women aged 35-39 years done in excelHourly wage of women aged 35 - 39 yrs
Statistical Type Results Mean 13.72 Standard Error 0.64 Median 9.88 Mode 12.00 Standard Deviation 20.53 Sample Variance 421.53 Kurtosis 91.85 Skewness 8.34 Range 318.51 Minimum 0.12 Maximum 318.63 Sum 14227.05 Count 1037.00What comments would you have on skewness statistic and kurtosis statistic?
Explanation / Answer
Skewness is greater than 0 will imply that the distribution is skewed to the right. Most of the values of the data are to the left of mean and only the extremes to the right of mean. In this case it implies that most of the women workers aged 35-39 have wages lesser than the average or mean wages. Some women who must be sitting at the top of the organizations having fat salaries affect the mean wages. Therefore the values to the right of mean affect the mean wages which could have been lower if extremes have not been included.
The kurtosis value is 91.85 shows a highly Leptokurtic distribution, much sharper than a normal distribution usually is , This means high probability for extreme values.
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