ASSIGNMENT RECAP

• Write a 1500-word report to analyze and compare unemployment rate data for two assigned countries, addressing specific questions on central tendency, variation, distributions, trends, and factors influencing unemployment through statistical analysis and graphs in Excel.

Structure:

1. Brief Overview (Suggested 350 words)

2. Descriptive Analysis

1. Line graph (Suggested 100 words)

2. Measures of Central Tendency (Suggested 100 words) 

3. Measures of Variation (Suggested 100 words) 

4. Histogram (Suggested 100 words) 

5. Box-and-Whisker Plot (Suggested 100 words) 

3. Conclusion (Suggested 100 words) 

4. Discussion (Suggested 150 words) 

5. Other Factors (Suggested 150 words) 

6. Comparison (Suggested 150 words) 

B/ KEYWORD EXPLANATIONS

1. Unemployment rate - The percentage of the total labor force that is unemployed but actively seeking employment.

2. Labor force - The total number of people employed plus those unemployed but looking for work. The labor force measures the economically active population.

3. Central tendency - A single value that best represents the center or middle of a dataset. Common measures are the mean, median, and mode.

4. Mean - The arithmetic average value in a dataset calculated by summing all values and dividing by the number of values.

5. Median - The middle value of a dataset when arranged in numerical order. Half the scores are above and below it.

6. Mode - The most frequently occurring value in a dataset.

7. Variation - The spread or dispersion of values in a dataset. Common measures are the range, variance, and standard deviation.

8. Range - The difference between the maximum and minimum values in a dataset.

9. Variance - A measure of the average squared deviations of each value from the mean.

10. Standard deviation - The square root of the variance. It measures how dispersed values are from the mean.

11. Histogram - A graphical display that groups data into bins and plots frequencies for each bin as adjacent bars.

12. Box plot - A graphical display summarizing key values and distributions using boxes and "whiskers".

C/  DETAILED OUTLINE 

I/ Brief Overview 

• 1-2 first sentences: General theory and overview of current labor markets (50 words)

• 6-8 next sentences: Background on unemployment in Country A and B (200 words)

• 1-2 last sentences: Summary of economic factors influencing unemployment (50 words)

Example:

• Theory of labor markets: Labor markets determine employment and wages based on supply and demand. Key metrics are labor force, employment rate, unemployment rate.

• Global labor markets discussion: Global unemployment increased during COVID pandemic but has improved in many countries as restrictions eased.

• Country A/B unemployment: Economy historically dependent on agriculture, now transitioning to services. Current unemployment around 7% despite GDP growth due to skills mismatch.