As our research comes to a close regarding the Wage Data Set that we have used throughout our research courses we take a closer look at two areas that need to be considered: Years of Experience versus Annual Income throughout the clerical industry. We have compared these two areas using tubular graphs and as our research techniques improve we will be using the linear graph, showing either an increase in pay of a decrease in pay.
We are going to take a look at just a few data cells and see if there is an increase or decrease in pay and see if there is a pattern. After reviewing the data we noticed that a person with five years of work experience is making more in annual income than that of an individual that has twenty-two years of experience.
We have included a linear graph for review. The linear graph seen here demonstrates the statistical relationship between years of experience and wages earned for the wage data set that we downloaded in RES 341. This data can be used in conjunction with any type of trend model that would suit the users needs to correlate forecasts of income expected for years of experience. The trend data can be used by both the employer and employee. This is the kind of data one would expect to be asked at an interview; the “loaded question” that most people do not know how to calculate. For example, the interview is going fine, then the potential employer asks, What salary would you expect if you were to get the job in question? Most individuals would opt for a number they can tolerate to live by rather than what is actually statistically correct. If an individual with fourteen years of experience used this data they can confidently say they expect to earn at least thirty-two thousand dollars a year at the position i ...