Regression and Correlation analysis
In understanding regression and correlation analysis, a research is carried out. The research involves investigating:
Whether the number of years spent or invested in schooling pay off in future, that is, in the job market.
In case the relationship exists, what is the strength of the relationship?
What is regression and correlation analysis? Regression analysis is the process of identifying relationship between one or more independent variable and a dependent variable. It first involves developing a relationship model and the parameter value estimates are used to develop an estimated regression equation. On the other hand, correlation analysis involves testing of the relationship strength between the variables, that is, it tests the interdependence between the variables. I our case, regression analysis will involve testing the relationship between the numbers of years invested in schooling and the reward in terms of salary in the job market. Correlation analysis on the other hand will involve testing the nature or strength of relationship between the number of years spent in schooling and the reward in terms of salary in the job market.
The participants involved in the research will be selected at random. Both male and female participants will be selected for the research. This will help to avoid biasness in the research which can lead to calculation of erroneous and wrong results. The age of these participants will vary depending on the highest education level attained by the participants. Participants involved in this research are of age 25 years and older. In this case, it will help to reflect the number of years spent or invented in schooling and their salaries in the job market. Six partici...
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c) The independent variables Yi are linearly independent of each other.
Conclusion
In conclusion, the number of years spent in schooling can be seen to be directly proportional to each other. Therefore, the more number of years spent in schooling, the better the salary in the job market. However, not all the participants who have spent more years in schooling get the same reward in terms of salary in the job market.
The results can be used by employers in determining the salaries of the employees in their premises. It can also be used by government in determining the salaries of civil servants.
References:
Archdeacon, T. J. (1994). Correlation and regression analysis: A historian's guide. Madison, Wis: University of Wisconsin Press.
Ezekiel, M., & Fox, K. A. (1959). Methods of correlation and regression analysis, linear and curvilinear. New York: Wiley.
They go on to say, "While the average return to obtaining a college degree is clearly positive, we emphasize that it is not universally so. For certain schools, majors, occupations, and individuals, college may not be a smart investment." (page. 209 Para. 1). This applies more to older students rather than students who are fresh out of high school. One of the main reasons the return rate is greater is because most of these students who are already working need more education in order to further themselves in their workplace. The authors also add that "The main problem is one of selection: if the smartest, most motivated people are both more likely to go to college and more likely to be financially successful, then the observed difference in earning 's by years of education doesn 't measure the true effect of college." (Page 209, Para #2). This means students who do not take advantage of all that college has to offer are not really getting the full experience. Why not invest in four years and come out with the opportunity to make more money? Some students want to go ahead and get school out of the way. Furthering education accumulates lots of debt. Some student 's choose not to overwhelm themselves with those costly decisions; they want to get right to work. Owens and Sawhill provided enough information on how logical it is to attend
The education span can become an important factor when considering a future career. Depending on the personality, some people prefer to be in school longer
In response to the question set, I will go into detail of the study, consisting of the background, main hypotheses, as well the aims, procedure and results gathered from the study; explaining the four research methods chosen to investigate, furthering into the three methods actually tested.
Three major types of methods used for this study are “Longitudinal Research Method”, “Cross- sectional Research Method” and “Cross Sequential Method” (A cohort form of Longitudinal and cross-sectional method). “Case Study Method” and “Survey Method” also have been used (Baltes, 1968).
indicates towards a fraud. On eof the most important qualities or benefits of this model is that it understands the pattern in the data and generates the result. Once the result is generated the model checks as to how close was the result from the actual results. Based on this analysis the model adjusts its weights to give an accurate result the next time. Once this model has been trained to give accurate results, it can be used to analyze other data as well. Even when Neural Networks are widely accepted, they are not really used that much in the marketing industry merely by the fact that data preparation for this model is very complex time consuming as compared to the Regression Analysis. The marketers are much comfortable using the Regression Analysis over Neural Networks because of the ease of interpreting the results in the Regression Analysis.
The articles, published after 1996, contain varied methods of research attainment, but share similarities such as being a self-survey, having a small sample size, and being
In this study, 218 university students, all females between the ages of 14 a 34, partici...
The authors of this article have outlined the purpose, aims, and objectives of the study. It also provides the methods used which is quantitative approach to collect the data, the results, conclusion of the study. It is important that the author should present the essential components of the study in the abstract because the abstract may be the only section that is read by readers to decide if the study is useful or not or to continue reading (Coughlan, Cronin, and Ryan, 2007; Ingham-Broomfield, 2008 p.104; Stockhausen and Conrick, 2002; Nieswiadomy, 2008 p.380).
After finishing college you can be ahead of your colleagues. Your qualification will determine your position in the company you work in, also will increase your anual salary. “College graduates earn more, and are more likely to have a job in the first place” (Rotherham 79). Unemployment is a serious issue in the U.S. This topic is brought countless amount of times. Unemployment rates for people with college degrees are far less than a person with only a high school diploma. Also the chances of someone getting laid off is also far less likely versus someone with a high school diploma. In the article “Why college isnt for everyone” by Richard Vedder the author mentions “A person who compares the annual earning of college and high school graduates would no doubt conclude that higher education is a good investment” (Vedder
Many people these days tend to believe that the higher the degree they earn the more money they will make. Thus far the more successful they will one day be. Although in some instances that may be true, that is not always the case. For example, my aunt graduated from
It is established that as a person goes higher in their academic career they have a greater opportunity in earning higher incomes, good employment opportunities as well as an improvement in their daily living conditions (WHO,2014, as cited Swain et al.,2014). Evidence suggests that children who have access to good early childhood education tend to earn a good income, low crime rate, reduction in teenage pregnancies, improved adult health status and decrease behavioural risk factors (Muennig et al.,2011 as cited in Swain et
In fact, furthering one’s education has a positive influence on society as our country saves money by spending less and increasing tax income. Furthermore, people who have at least a two-year degree tend to make higher wages and have a better job in our struggling economy. For example,
Gravetter, F. J., & Wallnau, L. B. (2008). Essentials of Statistics for the Behavioral Sciences
The two questions were designed to provide useful information. The respondents who are female and age between 18-24 or 25-35 contributed to the research. Others were seen as invalid questionnaires. The third section is the most important section of the questionnaire. There were ten closed questions in the third section which follow an easy to hard order, but eight of them were single answer questions whereas the rest two were multiple choice questions.
Regression analysis is a technique used in statistics for investigating and modeling the relationship between variables (Douglas Montgomery, Peck, &