Statistics question Weekly Wage Distribution 1000 2000 3000 College -Non College

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Statistics question

Weekly Wage Distribution 1000 2000 3000 College -Non College Moment measures # of workers Mean Variance Skewness Kurtosis College 4496 1076.032 373658.3 0.7072463 3.126257 Non college 8963 634.4509 198588.1 1.397371 5.534027 Does the wage distribution for two groups support the hypothesis that "Workers who have college degrees earn more (weekly) wages than the workers who don't have college degrees"? Justify your answer briefly by comparing 4 moments measures and distributions in figures

Explanation / Answer

Here we can compare the results of graph and the summary statistic given to us.
Firstly compare the means where mean of non-college is 634 and mean of college 1076 which is far greater to the non college.
Then go for the Variance by comparing we get college has much higher than non college so that we can say the variability is much higher of college than the non college.
Now compare the skewness by comparing we get college has skewness 0.7<1 that is, it is positively skewed but for non college skewness is 1.39 is is much more higher also steeply positively skewed.
Come for the kurtosis for college it is 3.12 which is near about 3 hence it is very close to mesokurtic but it is slightly platykurtic on the other side non college kurtosis is 5.5 which is much higher than college so it is platykurtic.

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