Relative Earnings of Male and Female Restaurant Staff in 1999: Box Plots

  • Thread starter LAYAN-2008
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In summary, the conversation discusses the gross weekly and hourly earnings of male and female restaurant staff in 1999. It is stated that men work more hours per week than women, therefore gross hourly earnings would be the appropriate data to use for comparing their earnings. The earnings ratios at the median, upper and lower quartiles, and highest and lowest deciles are calculated, indicating that women earn less than men on average. If data excluding overtime were available, the earnings ratios would be even greater. Decile box-plots are then drawn to represent the data, showing that there is a significant difference in earnings between male and female restaurant staff.
  • #1
LAYAN-2008
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Can you help me in this question??

The weekly earnings (including overtime)and the hourly earnings (including overtime) of


male and female restaurant staff who are working full time are given in the table below:



Gross weekly and hourly earnings of male and female restaurant staff in 1999
Gross weekly earnings Gross hourly earnings
(£) (Pence)
Women Men Women Men
Highest decile 235 275 556 641
Upper quartile 192 230 477 513
Median 163 183 402 434
Lower quartile 138 151 363 389
Lowest deciles 122 128 349 360



(a) Which of these two types of data would you use to compare the earnings of male and female restaurant staff? Give a brief justification for your choice.


I would use gross hourly earnings since men work more hours per week than women ...



(b) Calculate the earnings ratios for the restaurant staff at the median, the upper and lower quartiles, and the highest and lowest deciles. Comment on what these figures tell you about the relative earnings of male and female restaurant
staff in 1999.


earning ratio at the median =median earning of women/media earning of men

=402/434

=0.92626







(c) If data were available on gross earnings (excluding overtime) for male and female
restaurant staff, would you expect the earnings ratios calculated using such data to be
greater or smaller than those you calculated in (b)? Explain your answer briefly.



The earnings ratio will increase ..This is because men's earnings is larger than women,therefore the earnings gained from overtime for men is larger also ..So when excluding overtime



(d) Draw clear and accurate decile box-plots (as described in Unit 3) to represent the earnings
data for male and female restaurant staff. What do the box- plots tell you about the
relative earnings of male and female restaurant staff in 1999 ?

 
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  • #2
Please I Need Your Help.. I Want To Understand The Question
 

FAQ: Relative Earnings of Male and Female Restaurant Staff in 1999: Box Plots

1. What is an earnings ratio?

An earnings ratio, also known as a price-to-earnings ratio, is a financial metric used to measure a company's current share price relative to its earnings per share. It is calculated by dividing the current market price of a company's share by its earnings per share.

2. How is the earnings ratio useful?

The earnings ratio is useful for investors as it indicates how much they are paying for every dollar of earnings generated by the company. A high earnings ratio may suggest that the company is overvalued, while a low earnings ratio may indicate that the company is undervalued.

3. What is a boxplot?

A boxplot, also known as a box and whisker plot, is a way of visually representing the distribution of a dataset. It shows the minimum and maximum values, the median, and the first and third quartiles of the data.

4. How is a boxplot related to earnings ratio?

A boxplot can be used to compare the earnings ratio of different companies. The boxplot will show the range and distribution of earnings ratios for each company, allowing for a visual comparison of their relative valuations.

5. Are there any limitations to using earnings ratio and boxplots?

Yes, there are some limitations. Earnings ratios do not take into account other factors such as a company's debt or growth potential, and boxplots may not accurately represent the full picture of a dataset. It is important to consider other financial metrics and conduct further analysis before making investment decisions based on earnings ratio and boxplots alone.

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