Assignment2 - Statistical Analysis for Strategic Training...

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Statistical Analysis for Strategic Training 2020 Evaluation Report compiled by Research Section of the National Bureau of Labor Force EXECUTIVE SUMMARY This report was designed to provide National Bureau of Labor Force statistical analysis of the current labor force in Luckland. The core findings in the sample of 663 randomly selected working individuals are as follows: 1. The current average wage of a worker is $23.00, with average years of education of 13.7, average years of experience of 11.4 and ageing 32.8 years at average. 31% of the sample labor force is females, 14% are immigrants and 72% live in the city. 2. The major factors influencing a worker’s wage are his/her IQ score, years of education, years of work experience, years with current employer, age, marital status, living in rural or urban area, mother’s and father’s education. 3. Education and Experience both have positive effects on a worker’s wage, with education being a stronger effect on earnings. 4. The effect of gender discrimination in the sample is very low, and not significantly different from nil. 5. The sample shows none or low difference between years of work experience and years with current employer. 6. There is a positive “inter-generation effect on education” on a child’s earnings. 7. The predicted mean earnings for a “typical” single male rural worker is $16.54 an hour. Introduction and Approach of Statistical Analysis As Luckland is endowed with rich natural resources, the Research Section of the National Bureau of Labor Force has recently been requested by Sarah, the new deputy director of the Bureau, to provide statistical assistance for the policy outline for Luckland’s long term strategies of labor force training called “Strategic Training 2020”. A random sample of 663 working individuals have been drawn and analyzed for vital facts about the current labor force of Luckland. The sample includes complete data of the hourly earnings in dollars, IQ score, years of education, years of work experience, years with current employer, age in years, gender, marital status, country of birth, living in city or rural area, number of siblings, mother’s and father’s education of each working individual. The Research Section seeks to analyse the relationships between these variables, and how they can be used to assist in the policy outline “Strategic Training 2020”. MAIN REPORT a) The Main Features of the Current Labor Force: Wage, Education, Experience, Age, Gender, Immigrant or not, Rural or Urban. WAGE EDUC EXPER AGE FEMAL E IMGRN T URBAN MEAN 22.990 13.680 11.397 32.802 0.31373 0.14178 0.71946 ST. DEV 10.088 2.2314 4.2584 4.5437 0.46436 0.34909 0.44960 VARIAN CE 101.76 4.9792 18.134 20.645 0.21563 0.12186 0.20214 MIN 2.3 9.0 1.0 18.0 0.0 0.0 0.0 MAX 102.60 18.00 22.00 68.00 1.00 1.00 1.00 The main features of the current labor force are in the table above. The sample provided an average wage of $22.99 per hour (mean) with a spread of $10.09 (standard deviation) and a
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This note was uploaded on 03/25/2012 for the course ECON 3107 taught by Professor Valentyn during the Three '11 term at University of New South Wales.

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Assignment2 - Statistical Analysis for Strategic Training...

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