he föllowing tablé contains à sample data for 7 working individuals in New York city. The variable wage shows hourly wage, variable education shows years of education. Person education wage 16 11 16 12 15 11 15 8 17 12 25 16 18 14 Questions: 1. Find the average hourly wage in the above sample. What are the lowest and highest wages? 2. Find the average education level in the above sample. What are the lowest and highest years of education? 3. Does it appear that education has a positive effect on wage? Plcase explain. 234 67
he föllowing tablé contains à sample data for 7 working individuals in New York city. The variable wage shows hourly wage, variable education shows years of education. Person education wage 16 11 16 12 15 11 15 8 17 12 25 16 18 14 Questions: 1. Find the average hourly wage in the above sample. What are the lowest and highest wages? 2. Find the average education level in the above sample. What are the lowest and highest years of education? 3. Does it appear that education has a positive effect on wage? Plcase explain. 234 67
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![The following table contains a sample data for 7 working individuals in New York city. The variable wage shows hourly wage, variable education
shows years of education.
Person
education
wage
16
1.
11
16
12
3
15
11
4
15
8.
17
12
6
25
16
18
14
Questions:
1. Find the average hourly wage in the above sample. What are the lowest and highest wages?
2. Find the average education level in the above sample. What are the lowest and highest years of education?
3. Does it appear that education has a positive effect on wage? Please explain.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F082bc18e-7471-4852-8582-5944c7110971%2F1d3b1f42-0a19-4ad3-9e7b-c811d5864749%2F5wrw63t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table contains a sample data for 7 working individuals in New York city. The variable wage shows hourly wage, variable education
shows years of education.
Person
education
wage
16
1.
11
16
12
3
15
11
4
15
8.
17
12
6
25
16
18
14
Questions:
1. Find the average hourly wage in the above sample. What are the lowest and highest wages?
2. Find the average education level in the above sample. What are the lowest and highest years of education?
3. Does it appear that education has a positive effect on wage? Please explain.
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