Advances in Economics, Management and Political Sciences

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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 64 , 28 December 2023


Open Access | Article

Analyzing the Relationship Between Family Net Income and Socio-Demographic Factors by Using a Multiple Linear Regression Analysis

Meng Sun * 1
1 University of Michigan

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 64, 33-39
Published 28 December 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Meng Sun. Analyzing the Relationship Between Family Net Income and Socio-Demographic Factors by Using a Multiple Linear Regression Analysis. AEMPS (2023) Vol. 64: 33-39. DOI: 10.54254/2754-1169/64/20231485.

Abstract

The current study conducted a thorough analysis of the complex connection between net family income and various crucial socio-demographic factors, such as educational achievement, age, self-esteem, insurance coverage, and the presence of dependents in households. The primary aim of this investigation was to identify the key factors that demonstrate a favorable and statistically significant correlation with net family income. The ability to make wise decisions is of utmost importance as it can help government officials create policies, stimulate economic growth, and improve the quality of life for people and families. Previous research has largely focused on determining the primary elements that affect individual net income, with a noticeable lack of in-depth studies into the area of family net income. As a result, the research seeks to fill this gap by examining if these recognized connections also apply to the realm of family net income. The study utilized meticulous multiple linear regression analysis as its analytical framework, adopting data from the nationally representative Longitudinal Survey of Youth. The study's results highlighted the strong positive associations between education, insurance status, and the number of dependents with net family income, while not taking into account any other factors that were studied.

Keywords

family net income, self-esteem, insurance status, education

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-229-9
ISBN (Online)
978-1-83558-230-5
Published Date
28 December 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/64/20231485
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated