Consumer Math Question

Completing the Portfolio ItemIn this particular portfolio item, you will be completing calculations involving educational degree levels and median income. You will identify where you fall within the labor statistics document and complete various calculations based on your goals. Always be sure to address specific questions to ensure you earn the maximum number of points.Down below are attachments of the files you’ll need to complete this paper. It asks some personal questions which you obviously don’t know that answer to so I will give you the answers’ to those questions. ANS:FemaleHigh School Graduate or Moremy degree GOAL is 4 yearsI have not gone to college yet…The rest of the information needed is in the two documents below.
consumer_math_doc.doc

cm_doc2.pdf

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You will need to use the labor statistics document as a reference during this portfolio assessment.
Complete the table and then answer the following questions relating to the information.
1. What is your yearly median income based on your current educational level?
2. What is your hourly median income when you obtain your high school diploma but
before you start any further education assuming a 40 hour work week?
3. What is your monthly median income for the educational degree goal?
4. Assuming that this document is from data collected for 2002, what would you infer
about median income levels now?
Be sure to include in your response:
•
•
•
Answers to the original questions.
An explanation for how you calculated the amounts for questions 1 – 3.
A logical explanation for question 4.
Gender
Current High School Level
Median Weekly Income based on current high
school level
Median Weekly Income for High School
Graduate, No College
Difference in Median Weekly Income
Educational Degree Goal
Median Weekly Income based on Educational
Degree Goal
Difference in Median Weekly Income
between High School Graduate, No College
and Educational Degree Goal
© 2010 Connections Education LLC. All rights reserved.
Table 14. Median usual weekly earnings of employed full-time wage and
salary workers 25 years and over by educational attainment and sex,
2002 annual averages
Educ ational attainment and sex
Total employed Median weekly
earnings
(in thousands)
Total, both sexes 25 years and over
Less than a high school diploma………
89,067
8,544
$647
388
Less than 1 year of high school………
3,184
358
1-3 years of high school………….………
4,392
403
421
Total……………….……………………………
4 years of high school, no diplom a……
969
High school graduate or more……………
80,523
685
High school graduates, no c ollege……
27,148
536
Some c ollege, no degree…………….…
15,970
617
Ass ociate degree………………….………
8,653
657
Occupational program…………………
4,585
642
Ac ademic program…………….…………
4,068
673
College graduates…………………..……
28,751
941
Bachelor’s degree……………….………
19,004
876
Master’s degree…………………………
7,030
1,026
Prof essional degree…..……………..…
1,448
1,297
Doctoral degree…………………………
1,269
1,345
Total……………………………..……………
38,956
570
Less than a high school diploma………
2,879
323
979
305
Women, 25 years and over
Less than 1 year of high school………
1,559
335
4 years of high school, no diploma……
341
364
High school graduate or more………….
36,077
593
High school graduates, no c ollege……
11,760
7,299
459
524
Ass ociate degree……………………….…
4,282
578
Occupational program…………….……
2,190
565
Ac ademic program…………….…………
2,092
590
College graduates……………….………
12,736
809
Bachelor’s degree………………………
Master’s degree…………………………
8,519
3,342
755
901
Prof essional degree……………….……
506
1,060
Doctoral degree……………………..……
369
1,126
1-3 years of high school…………………
Some c ollege, no degree……………….
Table 14. Median usual weekly earnings of employed full-time wage and
salary workers 25 years and over by educational attainment and sex,
2002 annual averages—Continued
Educ ational attainment and sex
Total employed Median weekly
earnings
(in thousands)
M en, 25 years and over
Total……………………….……………………
Less than a high school diploma………
Less than 1 year of high school………
1-3 years of high school…………………
50,111
$732
5,665
421
2,204
2,833
387
459
4 years of high school, no diploma……
628
488
High school graduate or more…………..
44,446
776
High school graduates, no c ollege……
15,389
616
Some c ollege, no degree…………………
8,671
715
Ass ociate degree…………….……………
4,371
759
Occupational program………….………
2,395
739
Ac ademic program………………….……
College graduates…………….…………
1,976
16,015
783
1,089
Bachelor’s degree………………….……
10,485
1,001
3,688
1,201
Professional degree……………………
942
1,448
Doctoral degree………………….………
900
1,429
Master’s degree…………………………
SOURCE: Current Population Survey, U.S. Department of Labor, Bureau of Labor
Statistics

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