There were two single linear regressions made for the data set. A new independent variable was made for each. The independent variable for the first single linear regression was recoded as associate and below. This particular variable included the data for the educational levels of an associate degree or lower education. In the second single linear regression the independent variable was labeled bachelor and above. This new variable included the data for the educational levels of a bachelor degree or higher education. The dependent variable used was yearly median income.
The multiple linear regression contained nine education levels used for the independent variables. For the dependent variable, yearly median income was used. Figure 1-1 is an accurate visual representation of the trends over the years between annual median income and its relationship it …show more content…
The relationship shows the annual median income for each individually recorded year. For every year ranging from 1990 to 2010 (discluding 2005 and 2007) the lowest education level of less than 9th grade has the smallest increase in annual median income. Based on the data, the largest increase in annual median income is for a professional degree. It is important for one to note that all points along the zero label are not recorded as noteworthy variables. Based on the graphs, one may conclude that the representation of the data show statistical significance in proving there is a relationship between educational attainment and income level. This observation is based on the fact that there is a general trend to increase annual median income as years increase. One should note that this trend rises for the average rate of inflation, with a spike in 2008, which is suggestively correlated to the housing bubble resulting in the stock market
The multiple linear regression contained nine education levels used for the independent variables. For the dependent variable, yearly median income was used. Figure 1-1 is an accurate visual representation of the trends over the years between annual median income and its relationship it …show more content…
The relationship shows the annual median income for each individually recorded year. For every year ranging from 1990 to 2010 (discluding 2005 and 2007) the lowest education level of less than 9th grade has the smallest increase in annual median income. Based on the data, the largest increase in annual median income is for a professional degree. It is important for one to note that all points along the zero label are not recorded as noteworthy variables. Based on the graphs, one may conclude that the representation of the data show statistical significance in proving there is a relationship between educational attainment and income level. This observation is based on the fact that there is a general trend to increase annual median income as years increase. One should note that this trend rises for the average rate of inflation, with a spike in 2008, which is suggestively correlated to the housing bubble resulting in the stock market