## # A tibble: 21 × 4
## Refined_Employment_Category Count Mean_InsuranceAmount Mean_InsurancePeriod
## <chr> <int> <dbl> <dbl>
## 1 Agriculture 9 500000 2.11
## 2 Art and Design 14 928571. 8.71
## 3 Construction and Labor 354 538136. 6.76
## 4 Customer Service 24 687500 5.42
## 5 Driving/Security/General Lab… 505 593069. 7.64
## 6 Education and Training 513 764133. 9.16
## 7 Engineering and IT 85 870588. 16.8
## 8 Finance and Economics 440 592045. 7.59
## 9 Health and Medicine 69 891304. 11.0
## 10 Hospitality and Service 79 500000 4.37
## # ℹ 11 more rows
Each Refined_Employment_Category has a varying count of entries, with mean insurance amounts and periods also differing significantly.
For instance, categories like Management and Administration have a higher mean insurance amount compared to Construction and Labor.
This indicates that employment categories influence the insurance amount and period.
## [1] 0.06398
The Pearson correlation coefficient between InsuranceAmmount and InsurancePeriod is approximately 0.064, with a very small p-value.
This suggests a very weak positive linear relationship between the two variables, but the relationship is statistically significant.
## Df Sum Sq Mean Sq F value
## Refined_Employment_Category 20 48068010537774 2403400526889 13.9
## Residuals 4227 730850951326634 172900627236
## Pr(>F)
## Refined_Employment_Category <0.0000000000000002 ***
## Residuals
## ---
## Signif. codes: 0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1
## Df Sum Sq Mean Sq F value Pr(>F)
## Refined_Employment_Category 20 15725 786 9.4 <0.0000000000000002 ***
## Residuals 4227 353542 84
## ---
## Signif. codes: 0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1
ANOVA (Analysis of Variance):
For InsuranceAmmount across different employment categories, the F-statistic is approximately 13.9 with a p-value close to zero.
This indicates that there are significant differences in the mean insurance amounts across different employment categories.
For InsurancePeriod, the F-statistic is approximately 9.4, also with a p-value close to zero, suggesting significant differences in the mean insurance periods across different employment categories.
The box plots for Insurance Amount by Employment Category and Insurance Period by Employment Category show a wide variation within each category.
Some categories have a higher median and wider spread, indicating more variability and higher values.
Refined_Employment_Category significantly influences both the InsuranceAmmount and InsurancePeriod. Different categories have different typical amounts and periods for insurance.
There is a very weak but statistically significant linear relationship between InsuranceAmmount and InsurancePeriod.
The significant ANOVA results confirm that the mean insurance amounts and periods vary across employment categories, suggesting that employment type is a critical factor in determining insurance specifics.