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Modeling wages

  1. #1
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    Modeling wages

    Hello,

    I'm trying to estimate the share of working population by state that's being paid below the minimum wage. I have the following variables:

    Working population
    Standard error of the working population
    Aveage hourly wage
    Standard error of the hourly wage
    Minimum wage
    Hourly wage for the 10th, 25th, 50th, 75th and 90th percentiles

    How could I estimate the share of the working population, say that's getting paid less than $10/hour, without having the sample size (I think the latter to calculate the standard deviation of the mean to estimate the cumulative probability function)?

    Would it be possible to estimate the distribution using only the four percentile values and assuming a lognormal distribution?

    I'm trying to do this in Excel but willing to use R if needed. Any help is greatly appreciated.

  2. #2
    Forum Guru MarvinP's Avatar
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    Re: Modeling wages

    Hi apinel,

    Your problem looks like a Maps chart. Watch this demo..

    https://support.office.com/en-us/art...7-85CC835271F7

    Do you have the names of each state?? See if you can make your data work like the video. Note - I don't know if you need ver 2016 of Excel to do this.?
    One test is worth a thousand opinions.
    Click the * Add Reputation below to say thanks.

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