Compare The Base Yearly Salaries Of Employees

Compare the Base Yearly Salaries Of Emplo

Analyze the box plots comparing the base yearly salaries of employees in marketing and research. Identify the five-number summaries for each profession, which include the minimum, first quartile (Q1), median (Q2), third quartile (Q3), and maximum. Interpret each summary in everyday language to explain the salary distribution for each profession.

Paper For Above instruction

The analysis of salary distributions between marketing and research employees provides insights into their respective income levels and variability. Using the five-number summary derived from the box plots, we can better understand these distributions in everyday language.

Introduction

Descriptive statistics, such as the five-number summary, serve as essential tools in summarizing and interpreting data. When comparing two different groups, such as employees in marketing and research, these summaries help reveal differences in income spread, central tendency, and outliers. Box plots visually depict these summaries, allowing for an easy comparison between the groups.

Five-Number Summary for Marketing Employees

• Minimum: The lowest salary observed is approximately $99,000. This indicates that no marketing employee earns less than this amount.
• First Quartile (Q1): About 25% of marketing employees earn less than approximately $125,000. This indicates that a quarter of the employees earn salaries below this threshold.
• Median (Q2): The middle salary, where half of the employees earn less and half earn more, is roughly $149,000. This median salary signifies the central point of the salary distribution for marketing staff.
• Third Quartile (Q3): Approximately 75% of marketing employees earn less than about $169,000, meaning a quarter earn more than this amount.
• Maximum: The highest salary recorded is approximately $234,000, illustrating the upper boundary of the salary range for marketing employees.

Five-Number Summary for Research Employees

• Minimum: The lowest research employee salary is roughly $99,000, similar to marketing salaries at the lower end.
• First Quartile (Q1): Around $125,000, indicating 25% of researchers earn less than this amount.
• Median (Q2): The median salary is close to $149,000, indicating that half of the research employees earn below and half above this figure.
• Third Quartile (Q3): Approximate value of $169,000 shows that 75% earn less than this amount.
• Maximum: The top salary reaches about $234,000, comparable to the marketing department's highest salaries.

Interpretation of Salary Distributions

Both departments show similar salary boundaries, with the lowest salaries around $99,000 and the highest near $234,000. The median salaries of approximately $149,000 suggest comparable central income levels between marketing and research employees. The interquartile ranges (Q1 to Q3) highlight the middle 50% of salaries, indicating that most employees earn between $125,000 and $169,000 in both professions.

The similarity in these summaries suggests that both fields have comparable salary structures, with slight variations in salary spread. The absence of outliers in the box plots indicates that salary data does not contain unusually high or low earners outside the main group.

Conclusion

In everyday language, the salary data for employees in marketing and research illustrate that most workers earn between approximately $125,000 and $169,000. The median salary of around $149,000 reflects the typical income level. The salaries extend from about $99,000 at the low end to $234,000 at the high end, portraying a wide but consistent salary range for both departments. Such summaries help managers understand salary equity, competitiveness, and areas that might require adjustment or investigation.

References

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