Bus308 2018 homework week 1

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Week 1: Descriptive Statistics, including Probability

While the lectures will examine our equal pay question from the compa-ratio viewpoint, our weekly assignments will focus on

examining the issue using the salary measure.

The purpose of this assignmnent is two fold:

1. Demonstrate mastery with Excel tools.

2. Develop descriptive statistics to help examine the question.

3. Interpret descriptive outcomes

The first issue in examining salary data to determine if we – as a company – are paying males and females equally for doing equal work is to develop some

descriptive statistics to give us something to make a preliminary decision on whether we have an issue or not.

1 Descriptive Statistics: Develop basic descriptive statistics for Salary

The first step in analyzing data sets is to find some summary descriptive statistics for key variables.  

Suggestion: Copy the gender1 and salary columns from the Data tab to columns T and U at the right.

Then use Data Sort (by gender1) to get all the male and female salary values grouped together.

a. Use the Descriptive Statistics function in the Data Analysis tab Place Excel outcome in Cell K19

to develop the descriptive statistics summary for the overall

group’s overall salary.  (Place K19 in output range.)

Highlight the mean, sample standard deviation, and range.

Mean

Standard Deviation

Range

b. Using Fx (or formula) functions find the following (be sure to show the formula

and not just the value in each cell) asked for salary statistics for each gender:

Male Female

Mean:

Sample Standard Deviation:

Range:

2 Develop a 5-number summary for the overall, male, and female SALARY variable.

For full credit, show the excel formulas in each cell rather than simply the numerical answer.

Overall Males Females

Max

3rd Q

Midpoint

1st Q

Min

3 Location Measures: comparing Male and Female midpoints to the overall Salary data range.

For full credit, show the excel formulas in each cell rather than simply the numerical answer.

Using the entire Salary range and the M and F midpoints found in Q2 Male Female

a. What would each midpoint’s percentile rank be in the overall range? Use  Excel’s =PERCENTRANK.EXC function

b. What is the normal curve z value for each midpoint within overall range? Use Excel’s =STANDARDIZE function

4 Probability Measures: comparing Male and Female midpoints to the overall Salary data range

For full credit, show the excel formulas in each cell rather than simply the numerical answer.

Using the entire Salary range and the M and F midpoints found in Q2, find Male Female

a. The Empirical Probability of  equaling or exceeding (=>) that value for Show the calculation formula = value/50 or =countif(range,”>=”&cell)/50

b. The Normal curve Prob of  => that value for each group Use “=1-NORM.S.DIST” function

5 Conclusions: What do you make of these results? Be sure to include findings from this week’s lectures as well.

In comparing the overall, male, and female outcomes, what relationship(s) see, to exist between the data sets?