Quantitive analyse Essay Example | Topics and Well Written Essays - 1000 words

Quantitive analyse - Essay ExampleThere appears really strong linear relationship between income and age, as the data points lie (cluster) around a right away line. There appears very week (or no) linear relationship between income and point in time. However, the scattergraph is inconclusive, as there are cardinal values for degree Arts (0) and Science (1), only.In a bivariate regression, R2 is a measure of the coefficient of correlational statistics coefficient r. Correlation coefficient value near 0 indicates there is little (or no) association between the two variables and a value near 1 indicates a strong association between the two variables (Lind, Marchal and Wathen, 2009). Using correlation coefficient, R2 can be calculated as belowThe regression slope coefficient of 0.771 suggests that every year summation in fulltime-employed adults age increases income by about 771, on average. The regression intercept coefficient of 4.860 is non meaningful in the context of this pr oblem because there will be no employee with 0 years age.The value of coefficient of determination, R2 is 0.9797. This suggests that fulltime-employed adults age explains about 97.97% variation in income. Only 2.03% variations in income remain unexplained.The regression slope coefficient of -2.35 and intercept coefficient of 37.71 suggests that Science degree decreases fulltime-employed adults income by about 2,350 as compared to Arts degree. Arts fulltime employed adults income is 37,710, on average.The value of coefficient of determination, R2 is 0.0183. This suggests that fulltime-employed adults degree only explains about 1.83% variation in income and 98.17% variations in income remains