Relationship between Labor Market and Education Essay

Relationship between Labor Market and information - Essay ExampleFrom the above sidestep it is evident that majority of full time workers are those with PhD, masters, bachelors compass point and 2 year program. Of those interviewed those with masters degree and work full time amount to 66.2% while however 43% with high enlighten diploma are working full time. In contrast to this we check the division of those that are un active from the table only 5.2% with PhD are un employed compared to 11.7% of those who have attained high indoctrinate diploma. There it is evident that employment status will depend on education attainment.Now cod to the fact that the T critical value is little than the T calculated value we reject the delusive hypothesis that the two means are pair therefore we conclude that mean percentage of those employed and have PhD is greater than the mean value of those employed and have attained high school diploma.In the labor market people who have higher educ ational attainment are paid much(prenominal) than others, for example PhD holders will be paid higher wage rates than bachelors degree holders, in this faux pas we analyze education level and lowest wage instinctive to accept, the following table summarizes the resultsThe above table summarizes the percentage of those who are will to paid 4.35 to 9 fit in to their education attainment it is evident that only 1% of PhD holders are willing to be paid 6 dollars while 7.8% of GED holders are willing to be paid 6 dollars. ... Variance 1 = (2.22)2Variance 2 = (2.47) 2N1 =2535N2 = 2535Tcal = 100.2828T critical at 95% level of test = 1.9599Now due to the fact that the T critical value is less than the T calculated value we reject the null hypothesis that the two means are equal therefore we conclude that mean percentage of those employed and have PhD is greater than the mean value of those employed and have attained high school diploma.Education and lowest wage willing to acceptIn the labor market people who have higher educational attainment are paid more than others, for example PhD holders will be paid higher wage rates than bachelors degree holders, in this look we analyze education level and lowest wage willing to accept, the following table summarizes the resultsHigh school diplomaGED2-year programBachelors DegreeMasters DegreePhD...4.350.100.20004.50.40.90.30.1004.750.20.90.1000wage55.7113.20.90.3164.47.8310174.3631.30.8082.76.33.12.41.80914.11.60.50.80The above table summarizes the percentage of those who are willing to paid 4.35 to 9 according to their education attainment it is evident that only 1% of PhD holders are willing to be paid 6 dollars while 7.8% of GED holders are willing to be paid 6 dollars. For this reason therefore it is evident that the personify of labor depends in education attainment.HypothesisMore high school diploma individuals are willing to be paid 5 dollars than Masters Degree holdersNull hypothesis H0 a = b election hypothesis Ha a bWhere a high school diploma individuals are willing to be paid 5 and b is masters individual willing to be paid 5 dollars therefore a = 5.7and b = 0.3Tcal = 2.34057T critical at 95% level of test =