The ideas of central tendency, searching for employment, variability, and average are rather relevant today as every person faces this or that concept in everyday life. The primary goal of the central tendency is argued to be identifying the value. Humans are setting the priorities, making preferences and identifying the scores all the day round. Therefore, central tendency is applied in many private and professional areas. For example, central tendency is of great importance for average income calculation in specific industry or company. I agree with the statement that central tendency is very translatable and efficient as far as it allows interpretation of large amounts of data.
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Further, researchers argue that modern humans are constantly thinking about employment opportunities, promotion and income generation. And it is normal as we are living in highly tough competitive age and it is rather difficult for many firms and individuals to survive and to ensure descent living for families. Therefore, the assumption that every person have searched for employment is valid and reasonable. Of course, finding job is primary related to salary. Therefore, verifying the mean or the average should be taken as a starting point in calculating income.
The mean, mode and median are key methods of central tendency used for determining final salary upon hire. Variability is another measurement of income as it represents the entire distribution. The key benefit of variability is that it aims at demonstrating values clustered or tight. Moreover, variability is of great importance when it is necessary to interpret data that is spread out in terms of distance. In my opinion, variability is the most effective tool for illustrating income distribution. Finally, variability can be applied to inferential statistics for determining whether income in particular field is clustered or closely related.
Kennickell, Arthur B. (1999, January 19). Using Income Data to Predict Wealth. Retrieved March 21, 2009, from www.federalreserve.gov/pubs/oss/oss2/papers/wealth.income.7.web.pdf
The Variability of the Different Levels of Income Reporting. (2000, January 1). Academy of Accounting and Financial Studies Journal, retrieved March 21, 2009, from http://goliath.ecnext.com/coms2/gi_0198-482529/The-variability-of-the-different.html