Quantitative Research Methods

Paper Summary:

This paper establishes a correlation between the populations' living standards materialized in household income, and education, age of the individuals in the household, as well as their races.
The paper explains that the dependent variable, household income or wealth, is determined by independent variables of education of the household members, age of the household members and race. The paper shows how the three independent variables affect wealth and the most important independent variable in this relationship is the level of education possessed by each member.

Outline:
Purpose Statement
Definition of Variables
Data Description

From the Paper:

"The household income is a generic measurement tool of the wealth of a family and it is composed from the incomes coming from various sources, such as wages, salaries, premiums, bonuses, self-employment benefits, dividends, interests or pensions, registered by all relatives living under the same roof and which are 15 or older (U.S. Census Bureau, 2000). The average household income for 2005 was of $46,326 and when correlated with inflation, it revealed a 1.1 percent increase as compared to the previous year. 2005 represented the first year with real annual increase since 1999. Compared to 1967, the first year since household incomes are available, the increase is of 30.9 percent (Official Website of the White House, 2008)."

Sample of Sources Used:

• Hoyt, S., Education and Wealth, Economy, http://www.economy.com last accessed on June 10, 2008
• Current Population Survey, U.S. Census Bureau, 2005, http://pubdb3.census.gov/macro/032005/hhinc/new02_001.htm last accessed on June 10, 2008
• Economic Statistics Briefing Room - Income, Official Website of the White House, http://www.whitehouse.gov/fsbr/income.html, last accessed on June 10, 2008
• Education and Income: More Learning is Key to Higher Earnings, U.S. Department of Labor, Bureau of Labor Statistics, 2006, Retrieved from http://www.bls.gov/opub/ooq/2006/fall/oochart.pdf on June 10, 2008
• Household Income: 1999, Census 2000 Brief, U.S. Census Bureau, 2000, Retrieved from http://www.census.gov/prod/2005pubs/c2kbr-36.pdf on June 10, 2008

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