Regression models - association of college major with income
How income varies across different categories of college majors. Question: Based on your analysis, would you conclude that there is a significant association between college major category and income?
Answer: Yes
Explanation: I used median income as the dependent variable and major category, coded as a factor variable, for the predictor to fit a linear model. The p-values for all the factor variables for major categories are significant. The residuals are identically distributed and uncorrelated to the fitted value. Hence, the major category has a significant association with median income.