"SIMPLE RANDOM SAMPLING FOR WAGES PER HOUR 1NameClassInstitution SIMPLE RANDOM SAMPLING FOR WAGES PER HOUR 2Purpose:The main purpose of this project is to give an analysis of daily wages per hour of anemployee of a factory. A wage is financial rewardpaid by an employer to a worker inexchange for work done. Payment may be calculated as a fixed amount for each taskcompleted, or at an hourly or daily rate, or based on an easily measured quantity of workdone.Wages are part of the expenses that are involved in running a business. We willuse simple random sampling for this project to do an analysis of per hour rate. The usualmethod of selecting a simple random sample from a record of individuals is to allot anumber to each individual and then select certain numbers by reference to randomnumber tables which are published in standard statistical textbooks. Random number canalso be generated by statistical software’s.Procedure: We collected the data from a factory, where we gave a questionnaire to 86Employees and mostly question were about wages per hour. While the other questionswere about, living, expenditures and saving. But we pick only one topic here that will beabout wages per hour. SIMPLE RANDOM SAMPLING FOR WAGES PER HOUR 3 Data:15 15 23 17 18 15 23 27 27 26 2830 19 21 25 24 23 22 21 20 19 2826 25 24 23 22 29 17 15 16 22 2729 30 19 23 25 27 21 22 16 17 1823 25 21 19 29 20 15 19 18 23 2626 26 25 25 25 16 16 16 17 10 1214 13 12 27 24 13 14 10 10 10 1215 19 25 27 30 29 17 15 20These are per hour rate of 86 employees from a factory. Now we will choose a sample of15 employees for further statistical procedure. Population mean i.e.? = 20.7 andStandard deviation for the population has been calculated5.48.Sample Data: The following sample data of 15 employees has been taken formeasurement.23 10 18 17 14 30 26 23 22 19 2312 13 14 21 SIMPLE RANDOM SAMPLING FOR WAGES PER HOUR 4Calculation:? ? ? -?? -? 23 4 1610 - 9 8118 -1 117 -2 414 -5 2530 11 12126 7 4923 4 1622 3 919 0 023 4 1612 7 4913 -6 3614 -5 2521 2 4?? = ? ? ?( ? -?) = ? ? -? = ? ? ? SIMPLE RANDOM SAMPLING FOR WAGES PER HOUR 51. Sample Mean:? ? ? = ? ? ? ? = = ? ?? ? 2. Median:For Median, first we will arrange data10 , 12 , 13, 14 , 14 , 17 , 18 , 19 , 21 , 22 , 23 , 23 , 23 , 26 , 30 ? +1 Median = Value of ? h observation2 Median = Value of 8th observation ? ? ? ? ? ? = ? ?3. Range: For range, it is very simple measure of variability and only takes into account two mostextreme observations. So in above example most extreme observation are ? = 10 and1 ? = 3015 So ? ? ? ? ? = 30- 10 = 204. Sample Variance?? - ?? ? ? ?? = = = ? ? .? ? ? ? - ? ? ?"