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This Regression Analysis Examines the Relationship Between the Number of Years

question 67

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This regression analysis examines the relationship between the number of years of formal education a person has and their annual income. According to this model, about how much more money do people who finish a 4-year college program earn each year, on average, than those with only a 2-year degree?

Dependent variable is Income
R R -squared =25.8% =25.8 \%
s=3888 \mathrm{s}=3888 with 57 degrees of freedom
 Variable  Coefficient  s.e. of Coeff  Constant 3984.456600 Education 2668.45600.1 \begin{array}{lcc}\text { Variable } & \text { Coefficient } & \text { s.e. of Coeff } \\ \text { Constant } & 3984.45 & 6600 \\ \text { Education } & 2668.45 & 600.1\end{array}

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Definitions:

Mortgage Market

The financial market specifically related to the lending and borrowing of funds for the purpose of purchasing real estate through mortgage loans.

Housing Costs

The expenses associated with renting or owning a home, including rent, mortgage payments, taxes, and maintenance.

Black and Latino Families

Family units identified by their African American or Latino heritage, each with distinct cultural, social, and historical experiences in the United States.

Ghettoization

The process of confining a particular group, typically a minority group, to certain areas of a city or town, often associated with social, legal, or economic pressure.

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