Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
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
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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
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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
- 28 December 2023
- 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