Finance and accounting Assignment Example | Topics and Well Written Essays - 1500 words - 1

Finance and accounting - Assign custodyt ExampleIn contrast, the income distribution for women is highly reorient towards higher income range. The median for mens income is 2217.5 slice the media for womens income is 1437.5. On the other hand, the mean for mens income is 2635.95 and the mean for womens income is 1417 signalling a large difference in income between both groups. men as salutary as women see highest income frequency for incomes between 1500 and 2000.In the case of mens income, the outliers are present beyond the income level of 7000. In the case of womens income, the only outlier is in the 3500 to 4000 range. work forces income is more affected by outliers as expressed by the measuring rod deviation of 1701.16 while womens income is not as deeply affected by outliers as expressed by the standard deviation of 751.55 (Freeman et al., 2007). Outliers for mens and womens income distribution abide be dealt with by employing statistical corrections such as by convertin g the data to a normal distribution.Moreover, the outliers in the case of men can be seen as aberrations from the normal distribution of wealth and can be neglected altogether minded(p) the fact that these deviations affect the population samples credibility. The outliers are not only placed well away from the symmetrical distribution but present an insignificant proportion of the overall sample set. It could be reasoned that these samples originate from clients who do not otherwise fit into the socio-economic group being studied. The same is honest of womens income. The aberration results in small frequency counts that are placed well above the regular income distribution pattern. Similar to the mens case, the outliers in the case of women can be ignored to find better results.The answers for part (a) and part(b) tend to differ from each other based on the use of a normal distribution curve and the use of the actual sample. Using the