Assignment Tasks
1. Determine the mean, standard deviation and standard error for the production workers in your sample. Use this information to carry out a t-test to see if the average pay for production workers is less than $49,000.
2. Construct a new variable called Experience which is equal to the length of time each employee has worked for the company up to the year 2011. State the formula used for the new variable. Obtain a scatter-plot of Current Pay vs Experience for Production staff. Thinkcarefully about which variable should go on the vertical axis - remember, it is theindependent variable that goes on the horizontal axis (i.e. the x-axis). Make sure youlabel your axes properly and that your graph has an appropriate title.Briefly describe the nature of the relationship between these two variables.
3. Use XL to carry out a regression analysis on these two variables. (This is for the production staff only.) Copy the output into your assignment and use it to respond to the following:
o Write down the regression equation.
o State the R-Square value and the Standard Error and explain what they mean with respect to this data.
o Write down the value of the gradient of the regression line and explain what it means in this case.
o Is the constant or intercept value significant in this case? How do you know this?
o Briefly explain why you think this regression model is, or is not, a good model.
4. For production staff, obtain a stratified scatterplot distinguishing males and females.
Make sure that the scatterplot is labeled appropriately and that the markers for males and females can be easily distinguished and are an appropriate size.
Your scatterplot should include trendlines, equations and R2 values for each group.
Provide a brief comparison of the pay for the two groups, noting important differences, if any, between them.
Do males receive better pay than females?
Do males receive better pay increases than females?
5. Using information from your analyses write a short concluding paragraph about the pay of p