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Randomly generate 15 numbers rounded to 2 decimal places using the Numpy random function “normal()” with a mean of 20 and standard deviation of 5. Use seed of 1. Create a Pandas series of these 15 randomly generated numbers. Suppose that these numbers represent hourly wages of fifteen workers. Use a Pandas functions determine the average wage rate and the corresponding sample standard deviation Use a Boolean mask and Pandas function determine how many workers make less than $15 per hour Use a Boolean mask and Pandas function generate summary descriptive statistics for those earning less than $20 an hour Suppose that 5% raise for all individuals is approved. Create a new Pandas series for the new wage rate rounded to 2 decimal places

Randomly generate 15 numbers rounded to 2 decimal places using the Numpy random function “normal()” with a mean of 20 and standard deviation of 5. Use seed of 1. Create a Pandas series of these 15 randomly generated numbers. Suppose that these numbers represent hourly wages of fifteen workers. Use a Pandas functions determine the average wage rate and the corresponding sample standard deviation Use a Boolean mask and Pandas function determine how many workers make less than $15 per hour Use a Boolean mask and Pandas function generate summary descriptive statistics for those earning less than $20 an hour Suppose that 5% raise for all individuals is approved. Create a new Pandas series for the new wage rate rounded to 2 decimal places

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Randomly generate 15 numbers rounded to 2 decimal places using the Numpy random function “normal()” with a mean of 20 and standard deviation of 5. Use seed of 1. Create a Pandas series of these 15 randomly generated numbers. Suppose that these numbers represent hourly wages of fifteen workers.

Use a Pandas functions determine the average wage rate and the corresponding sample standard deviation

Use a Boolean mask and Pandas function determine how many workers make less than $15 per hour

Use a Boolean mask and Pandas function generate summary descriptive statistics for those earning less than $20 an hour

Suppose that 5% raise for all individuals is approved. Create a new Pandas series for the new wage rate rounded to 2 decimal places

 

 

 

Expert Solution
Step 1: Providing Introduction

Using the random function with a normal distribution provided by NumPy, we will replicate the hourly wages for fifteen workers in this task. These compensation will be shown as a Pandas series. The data will then be subjected to a number of calculations and analyses, including calculating the sample standard deviation and average wage rate, counting the number of employees making less than $15 per hour, creating summary statistics for those making less than $20 per hour, and finally applying a 5% wage increase to all individuals.

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