Private pay increase of salaried employees versus inflation rate

Data for Exercises 2.12 and 2.29

Inflatio

Format

A data frame/tibble with 24 observations on four variables

year

a numeric vector of years

pay

average hourly wage for salaried employees (in dollars)

increase

percent increase in hourly wage over previous year

inflation

percent inflation rate

Source

Bureau of Labor Statistics.

References

Kitchens, L. J. (2003) Basic Statistics and Data Analysis. Pacific Grove, CA: Brooks/Cole, a division of Thomson Learning.

Examples

plot(increase ~ inflation, data = Inflatio)

cor(Inflatio$increase, Inflatio$inflation, use = "complete.obs")
#> [1] 0.8164214