Running head: WAGE AND WAGE EARNERS
Wage and Wage Earners
There has always been much debate about the wages earned between those with many years of education and those with many years of work experience. Does one factor promise higher compensation than the other? In a study conducted by University of Phoenix students, one hundred working adults were surveyed on how many years of experience they had, how many years of education they had, and what their annual salary is. The results vary. Many factors play a role in the salaries earned, versus what is required to earn that salary. Field of work is a large contributing factor. Personal preference may also play a role. In the data set used, the independent variables being used are years of experience and years of education. These were the factors that could be changed by the people conducting the research. The independent variable of years of education was changed from four years up to 18 years. The independent variable of years of experience ranged from none all the way up to 54. The affects these had on the dependant variable were surprising. The dependant variable in this data set was the amount of income generated by each individual. The amount of income ranged dramatically and it seemed that the amount of experience had little effect on the outcome once an individual reached the five year mark. It was obvious that the number of years of education did make a significant difference in the maximum income earned by the subjects. There are too many unknown factors about this data set to make a definite conclusion. There was not a controlled variable identified. It is important to remember that among the population this data set was created for, none of the individuals had zero years of education. Perhaps if the education went back to zero, the data set used would have shown a more dramatic difference.
Among those surveyed, the salary scale ranges from just under $10,000 per...
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