What factors influence the annual income

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Same question for my friend. Please rephrase it . I would like to know what factors influence the annual income of a person. What are some of the variables you will look for? How would you collect data on these variables? Is the data qualitative or quantitative? Remember that for each person you find the income of, you should be able to identify the value of the variable you mention above in order to run a regression. Let's say I run a regression with income as the dependent variable and race as the independent variable. My results indicate that race is a "significant" variable. Then, I run another regression, again with income as the dependent variable. But this time with both race and education as the independent variables. My results now indicate that race is NOT a "significant" variable, but education is a significant variable. What is your conclusion? What will be your next step?

Reference no: EM13797277

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