STATISTICS ANALYSIS
Statistical Analysis
Stebbins (2019) in his analysis of the wealth distribution in the twenty-five counties in the United States by use of measures of central tendencies and variations to highlight how different counties wealth differs and the factors that cause the deviation in wealth. (Par 1). These analyses compare each county’s population, the median income of an individual compared to the average national average household income median. Furthermore, the study of the data reveals the annual income of every household and the average national household income of 6.7 per cent.
The article also analyses the primary cause of wealth distribution in those impoverish counties to the differences between the salary of the executive officer and the ordinary workers. These differences cause the wealth to remain with few individuals who exploit the disadvantages in society. Furthermore, the disparities between the two have recently increased beyond the imaginations of the Americans: who believes in the equal distribution of the resources. Conversely, many people continue to live below the national median income while few people have accumulated a lot of wealth to the extent of tripling the nation household income level.
How Article Have Used Descriptive Statistics
Stebbins (2019) uses the quantitative statistical methods to analyse, to give information and convey the meaning of the set data to the reader. For example, he uses the mean, to establish the value of average income for each household, the median to compare the household income with the national income level of 6.7%. Also, the range has been used to compare different variables in a given population in different counties. The analysis also uses the percentiles to establish the percentage of individuals who fall at specific categories: for example, those above, below, above and equal to the national household median income.
Application of the Article in Real World
The statistics data uses a specific population to represent, or sometimes uses the whole community to interpret a piece of critical information that guides us how the economy or particular sector is fairing, the data in the article correlate with the daily happenings in the united states. The reveal there is considerable disparities in term of income that senior managers and the workers get, which eventually leads to unequal distribution of income (Stevens, 2009). In comparison with what the today society is experiencing, the data reveals the similarities: in all overs the sates in U.S. the unequal distribution is typical. Also, only a few people are wealthy, and the majority are people are impoverished.
Reasons the Article Use the Data in the Text
The data used by the analyst should be accurate and chosen wisely through careful observations to give the exact representation of the population. In that account, the article uses secondary data from wall street and labour statistics. Since the information from that institution is reliable and accurate. Moreover, the researcher who works for them in the statistics bureaus is highly trustworthy due to their competence in collecting data, the median, average, range and percentiles. The data collected and analysed gives the values of each item. (Keller, 2018): to represent the value of all the individual, the mean data provides critical information regarding the entire population: averaging the data eases the analysis and the interpretations of the data.
The techniques used to analyse the data are paramount in the career of a statistic student because these techniques give an insight of what the student is supposed to carry out his data analysis and collections (Stevens, 2009). Furthermore, the use of the data gives prior information about the current events that are affecting our careers and our daily life. In that account, the use of statistic data is paramount to conclude the problems the nation encounters.
Sources List
Keller, G., (2018). Statistics for management and economics.
Stevens, G., (2009). Student solutions manual for statistics for management and economics. Mason, OH: Cengage Learning.
Stebbins, s. (2019). Retrieved from https://www.usatoday.com/story/money/2019/05/26/25-counties-with-the-widest-income-gaps/39505053/