Introduction To The Scenario And Data Set
Suppose that there is a situation in which a major client of your company is willing in the salary distributions of jobs in the state of Minnesota ranging from $40,000 to $120,000 annually and as a business analyst your boss gives you a task of researching and analyzing the salary distributions. For this purpose, you are assigned a spreadsheet that has following information for analysis:
- Listing of the job by its title
- Annual salary offered for each job profile (especially in U.S. dollars)
Classify the variables in data set #1
Describe the level of measurement for each variable included in your data set.
What are the measures of center?
Why are the measures of center important?
What are the measures of variation and why are they important?
Calculate the measures of center and variation.