ANLY 500-51: Education Level Impact on Income Project

This project investigates the relationship between education and income levels, utilizing secondary data from the prestige dataset. The study aims to determine the correlation between education and income, along with the influence of variables such as prestige and the percentage of women in an occupation. The research employs descriptive statistics, scatter plots, correlation analysis, and simple and multiple linear regression to test the hypotheses. Key findings reveal a positive correlation between education and income, with prestige also significantly impacting income. The study also notes a negative correlation between the percentage of women in an occupation and income. The project concludes that higher education levels and occupational prestige are associated with increased income, while a higher percentage of women in an occupation may correlate with lower income levels, as per the analysis performed. The study used R for statistical analysis, and the coding is provided in the appendix.