Statistical regression Statistics Project Example | Topics and Well Written Essays - 750 words

Statistical regression - Statistics Project Example s sustainable development through the prospering of economy is the key ideology of the United States because sustainable development is the road map to justify the economical growth. This means poverty issues, minimum wage rate and new employment would be the key factors to determine the prosperity of lifestyle of the population for any nation in the long run (Corsetti et al, 2011). The decay of economic growth in the United States has been believed to be of a product of different factors like unemployment rate, consumer price index and inflation control. The economical theory of any healthy market is to keep the flow of capital in the market and it would get stagnated or decline with reduced household disposable income, increased consumer price index and decreased wage rates and employee compensation(Corsetti et al, 2011). The various factors may be reviewed as under: i. GDP & Consumption: Gross Domestic product specifies the market value of the total accepted and recognized final commodities produced over a given time. It represents government spending, exports and consumption. Consumption the largest component of GDP includes the private or household expenditure on goods and private investments also. Investments indicate how the industries invest on manpower and machinery which might act to reduce unemployment and encourage cash flow and production. Increased household expenditure also means that people have the buying power and are maintaining that in spite of inflation. ii. Inflation & Wage rates: refers to the general price of the commodities and services in an economy over time. This means when inflation raises purchasing power of unit money will fall and unless the wage rate increases it will be difficult to purchase the same service over time(Corsetti et al, 2011)( Devereux et al, 2003). Econometric and Social analysis are done by time series data points. Time series is an array of data points which are measured at uniform time intervals to calculate