stats Essay

586 Words 3 Pages
There are two distinct variables that will be analyzed in this paper. These variables were taken from 20 industries and 140 subindustries in the United States. The first variable to be studied is the Industry group. The industry group variable consists of numbers from 1 to 20 to denote the industry group to which the particular sub industry belongs.
The second variable to be studied is the Number of Production Workers. Along with the Number of Production workers, the number of employees are in units of 1000.Through this paper, Statistical analyses such as methodology, tables, figures, formulas, and results will be presented. In summarizing these variables, descriptive measures and graphics will be used.
Along with
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The objective of this paper is to study two variables, the industry group and the number of production workers of this financial database, and to perform the necessary computations and graphics needed to present these variables in the their best aspect. This paper presents the following statistical analyses:
·     Summarization of the variables under study using graphical means
( frequency distribution, histogram, etc.).
·     Summarization of the variables under study using descriptive statistics.
·     Compare the descriptive measures of the various groups.
·     Interpret and draw conclusion from each analysis.


Descriptive Measures
Descriptive statistics such as central tendency, variation , shape and other measures were used to study the variables. The measures of central tendency are used to yield information about the center of a data set(Black, 2001, p.38). Three measures of central tendency were used:
·     Mode- the most frequent occurring number.
·     Median- the middle value in an ordered array of numbers; if the array size is even, the median is the average of the two middle numbers.

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