Communications 1999

Assignment #5 – Money & You
How Much Is An Education Worth?
Assigned: Friday, March 5, 1999

Prepare the following on separate sheets of paper. Head each paper using the format provided by Gloria. Where written answers are requested, proofread your work for legibility, punctuation, capitalization, spelling, conciseness and complete sentences. Where calculations are required, neatly write out the formulas you used and circle your answers. Number all answers. Be prepared to report on your work next Friday in class.

Part 1 – due Monday, March 8, 1999

Use the tables at the bottom of this page as the source of information for this assignment.

    1. Write out your assigned category.
    2. How many individuals are in it?
    3. How much does a person in your category earn each year above that earned by a person who dropped out before high school?
    4. About how many years beyond 8th grade did a person in your category go to school?
    5. How much per year is each of those years worth to a person in your category?
    6. What is the difference in yearly pay between a person in your category and his/her gender opposite?

Part 2 – due Tuesday, March 9, 1999

Using a web browser, open the USA Today page at http://www.usatoday.com/snapshot/money/msnap075.htm. Print it for your binder. Where appropriate, use its information to respond to the following.

    1. What is the source of the USA Today data?
    2. What is the source for the data in the tables on the backside of this sheet?
    3. Is the data itself the same or different?
    4. Would you say that the USA Today data is more or less accurate than the data on the backside of this sheet? Why?

Part 3 – due Thursday, March 11, 1999

Using a web browser, open the Information Almanac page at http://www.infoplease.com/ipa/A0112646.html; and the Christian Science Monitor page at http://www.csmonitor.com/durable/1999/03/03/p1s1.htm. Print the pages for your binder. To print the Monitor story, you’ll need to click inside the story frame; then click File, Print Frame. Use the information on the printouts to respond to the following. Each listed item should be a complete sentence.

    1. List the things you learned from the Information Almanac page that were unavailable in Monday’s and Tuesday’s data.
    2. List the things you learned from the Monitor story that were not in any of the other data.

How Much Is An Education Worth?

Male Workers, 1997 (sample size: 80,263,000)

Education attained

% of
sample

median income

$ per year added

$ per year cumulative

less than 9th grade

7.27%

$12,157

 

 

Grades 9-12, no diploma

9.47%

  16,818

$ 4,661

$  4,661

High School graduate

32.12%

  25,453

   8,635

  13,296

Some college, no degree

17.31%

  30,536

   5,083

  18,397

Associate degree (AA)

6.97%

  32,930

   2,394

  20,773

Bachelor's degree (BA)

17.32%

  41,949

   9,019

  29,792

Master's degree (MA)

5.71%

  52,530

  10,581

  40,373

Doctorate degree  (PhD)

1.67%

  68,643

  16,113

  56,486

Professional degree (Dr., lawyer, dentist, etc.)

2.17%

  72,274

   3,631

  60,117

 

Female Workers, 1997 (sample size: 83,821,000)

Education attained

% of
sample

median income

$ per year added

$ per year cumulative

less than 9th grade

6.74%

$  7,505

 

 

Grades 9-12, no diploma

9.14%

    8,861

$ 1,356

$ 1,356

High School graduate

34.99%

  13,407

   4,546

   5,902

Some college, no degree

17.50%

  17,153

   3,746

   9,648

Associate degree (AA)

8.25%

  21,073

   3,920

  13,568

Bachelor's degree (BA)

16.45%

  26,401

   5,328

 18,896

Master's degree (MA)

5.35%

  35,882

   9,481

  28,377

Doctorate degree  (PhD)

0.61%

  46,545

  10,663

  39,040

Professional degree (Dr., lawyer, dentist, etc.)

0.96%

  45,200

  -1,345

  37,695