part 5

Colu mn

n Mea

n Varia nce

Std. dev.

Std. err.

Medi an

Rang e

Min Max Q1 Q3

Whit e

52 6443 0.885

2.288 4303 e8

1512 7.558

2097. 8149

6095 9.5

1109 02

2113 8

1320 40

5636 5.5

7131 8

Black / Africa n Amer ican

52 4035 8.596

8605 8996

9276. 7988

1286. 4605

3857 2.5

5060 4

1949 6

7010 0

3364 5.5

4574 4

Over all Avera ge

52 5984 2.692

1.354 2761 e8

1163 7.337

1613. 8082

5884 8

6243 8

2016 6

8260 4

5282 4

6839 2.5

The provided data presents summary statistics for three groups: White, black, and the overall.

Based on the mean values, White people have an average income of $64,430.885, which is the highest, then the overall mean of $59,842.692, and the Black group has the lowest income at $40,358.596. The same trend is observed in the median income, where White individuals have the highest median at $60,959.5, followed by the overall median of $58,848, and Black individuals with a median of $38,572.5.

The spread of data, as indicated by the range, is widest for White individuals (range: The highest range was women ($21,138-$132,040), followed by the overall range ($20,166-$82,604), and then Black individuals (range: $ 19,496-$70,100). This implies greater income inequality amongst Whites.

Looking at boxplots would probably give a better idea of the income distribution within each group. Both minimum and maximum values and the interquartile range (Q3-Q1) provide information about spread and central tendency. Outliers can also be detected.

Overall, the data points to large income conferences between Whites and Blacks. White individuals usually have higher mean and median incomes and a more comprehensive income range. Analyzing boxplots would allow a visual representation of these differences, giving a more intricate perception of the income distribution within each group.