To find the monthly difference in median income for males and females with a bachelor's degree, we can start by calculating their annual incomes based on the given weekly incomes.
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Calculate annual income from weekly income:
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For males: \[ \text{Annual Income (Male)} = \text{Weekly Income (Male)} \times 52 = 1384 \times 52 \] \[ \text{Annual Income (Male)} = 72,368 \]
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For females: \[ \text{Annual Income (Female)} = \text{Weekly Income (Female)} \times 52 = 1041 \times 52 \] \[ \text{Annual Income (Female)} = 54,132 \]
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Calculate monthly income by dividing the annual income by 12:
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For males: \[ \text{Monthly Income (Male)} = \frac{72,368}{12} \approx 6,030.67 \]
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For females: \[ \text{Monthly Income (Female)} = \frac{54,132}{12} \approx 4,511 \]
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Calculate the monthly difference: \[ \text{Monthly Difference} = \text{Monthly Income (Male)} - \text{Monthly Income (Female)} \] \[ \text{Monthly Difference} = 6,030.67 - 4,511 \approx 1,519.67 \]
Thus, the monthly difference in median income for males versus females when both have a bachelor's degree is approximately $1,519.67.