Excel

 

Kristen Huber

Kristen is a Tokyo-based budding analyst with an interest in project management

The age of the people in the wage data also has a negative distribution- does this contribute to why wages also has a strong negative distribution? Let's look closer at the wages data in Minitab.

Now that we've looked closer at the data we can see that the mode is close to 30000, as well as the mean. The data still has a negative distribution, but now we can see how large the standard deviation is.

Using a Cumulative Frequency Distribution, you can easily see what percent of the values lay in each range. If you were to randomly choose one wage, there is a 80 percent probability it will be below 50,000.

Here are some histograms created in Excel and Minitab for my Introduction to Quantitative Analysis course through UCLA Extension.

 

The following data all comes from the Wages Data Set from Statistical Techniques in Business and Economics by Douglas Lind.

Excel (Updated 2/19/2016)

 

As you can see, the wages follow a negative distribution with the mode in the 10,000 to 19,999 range. Most of the wages seem to be concentrated in the 10,000 to 39,999 range.

 

The following histograms were created using Minitab.

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