INFT 6201 - Analysis - Working Habits - Data Analysis - Data Analysis Assessment Answer

Assessment Details:

Achieving a comfortable income is the goal of almost all people to provide the basic resources, lifestyle, and opportunities for themselves and their families. Equally, governments have an interest in maintaining or increasing tax revenue to support the costs to meet the needs of countries; income tax is a fundamental source of taxation revenue and is almost always set as a proportion of personal income. Understanding the conditions that are associated with a comfortable income is therefore beneficial to both individuals (who seek to secure an income) and governments (who seek to secure reliable and strong tax revenue). For example, it is likely to be of interest for individuals to know how the probability of achieving an increased income varies with further education, just as it is of interest by governments to provide those educational opportunities.

Questions

1. Examined differences in the mean hours worked between genders, income groups, and educational attainment levels, using t-test and analysis of variance (ANOVA)
2. Explored and modeled the relationship between capital gain and hours worked using linear regression, to determine if those earning capital gain are more likely to increase their capital gain when working longer hours.
3. Developed a predictive model to understand and identify the variables that determine the probability of individuals achieving an income greater than $50k per year.

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