Question

On Canvas you will find a dataset titled CPS2015, which contains data for full-time, full-year workers, ages 25–34, with a high school diploma or B.A./B.S. as their highest degree. A detailed description is given in the file CPS2015_Description, also available on Canvas. In this exercise, you will investigate the relationship between a worker’s age and earnings. (Generally, older workers have more job experience, leading to higher productivity and higher earnings.)

Answer 1

In this question, we are missing the data that is necessary to fully answer it. However, we can still talk about the relationship that you will be studying in order to help you analyze the results that you will obtain.

It is true that older people tend to make more money than younger people. According to PayScale, wages increase 30% for men and 34% for females between the ages of 22 and 30. Moreover, full time workers with bachelor degrees do not reach their peak in income until their 40s (women) or 50s (men).