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Higher income levels are often listed as a reason to pursue more education. Analyze the General Social Survey we use for this course to determine
- Higher income levels are often listed as a reason to pursue more education. Analyze the General Social Survey we use for this course to determine if there a direct link between income and education. Test the null hypothesis that there is no relationship between a respondent's income (REALRINC) and their highest year of school completed (EDUC). Remember, income is the dependent variable.
- Apply the ANOVA test of regression ("Regression" in the Analysis ToolPak). Report the p-value (if p < 0.0001, just report p < 0.0001). Is it significant?
- What is the regression slope and intercept? Use the format Y = mx + b.
- Predict the amount of income in constant dollars (year 2000) for a person who has completed 12 years of education.
- Predict the amount of income in constant dollars (year 2000) for a person who has completed 16 years of education.
- Find the coefficient of determination (), and interpret it.
link to data sheet : https://docs.google.com/spreadsheets/d/1OF76olpB61Kc58imFrJJS3jvlWXaoTFwxiz1TH_V610/edit?usp=sharing
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