LTwageearnerswithcorrections-1

LTwageearnerswithcorrections-1 - WAGES AND WAGE EARNERS 1...

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WAGES AND WAGE EARNERS 1 Wages and Wage Earners Alma Gonzalez, Billy H. Edom, Jason Hoskins, Nicole Graziano, Shavonne Davenport, Stephanie Heck, Terrika Outing Research and Evaluation/RES341 September 5, 2011 Dr. Ben Millard
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WAGES AND WAGE EARNERS 2 The wages and wage earners data set includes one hundred observations of annual wages. The data set shows the relation between the annual wages of these one hundred participants and their demographics. Demographics are statistical characteristics of a population (Webster’s Dictionary online, 2011). The demographics in this data set include the industry, occupations, years of education, years of experience, race, gender, age, geographic location, and marital status. The purpose of this paper intends to analyze the information from the data set in order to determine what factor most significantly affects the annual salary of this population. Finding the factors that help to determine an annual salary can both help an individual and an organization. For example, perhaps a job-seeker is looking to make a move to a different part of the country. He or she can determine the odds of succeeding in that particular area. For instance, as presented in the data set, the majority of the individuals in the Southern part of the country are making only half of their counterparts in the North. An individual may want to take that in to consideration before they make that move. As for organizations, the information collected for this data chart is also important for the organization to succeed. If there ever comes a time where an organization wants to grow, this information can help it to determine what factors it should highlight in order to offer competitive job salaries. Having a step up on an organization’s competitors can help to minimize its amount of unhappy employees, which minimizes the turnover rate. Minimizing a company’s turnover rate is in its best interest. It enables the company to spend less on training new employees. Focusing on the areas that fall short helps both the individual and the organization. The purpose of the Wage and Wage Earners data set is to determine what factors most
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This note was uploaded on 09/08/2011 for the course BUSINESS M RES 341 taught by Professor Benmillard during the Fall '11 term at University of Phoenix.

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LTwageearnerswithcorrections-1 - WAGES AND WAGE EARNERS 1...

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