Regression Paper
Becca Yates, Diana Correa, Michelle Diaz,
Nancy Guererro, FelishaJarmillo, and JeriLynn Steele
RES/342
June 11, 2012
Nysia George
Regression Paper
In today’s economy it is more important than ever for individuals to take their time and obtain a degree. With unemployment rates at an all-time high, people are scrambling to find a way to be more marketable in the job market. Learning Team C has chosen to research the idea that people with a degree can make more money than people without a degree. We would like to know if education plays a part in the level of wages a person earns. Our hypothesis question states exactly: “Is there a linear relationship between education and wages?” While the U.S. Census bureau has released a statement that says “The U.S. Census Bureau announced this week that workers with a bachelor’s degree earned about $26,000 more on average than workers with a high school diploma, according to new figures that outline 2008 educational trends and achievement levels” our team has chosen to test out the theory and find out the answer to our hypothesis question.
Many organizations stress the importance of a college education to young students deciding about their future and to adults searching for better opportunities. The members of Team C certainly agree with the importance of education. This is why we are back in school and striving for our Bachelor’s degrees. According to the Bureau of Labor Statistics, education pays. “Education pays in higher earnings and lower unemployment rates…” (United States Department of Labor, n.d., Employment Projections). In 2011, the Bureau of Labor Statistics projected weekly earnings for people with a high school degree at $638, an Associate’s degree at $768, a Bachelor’s degree at $1,053, $1,263 for those with a Master’s, and $1,665 and $1,551 for people with a Professional and Doctoral degree. Unemployment rate also decreases with higher education. High school...