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You will use its data file to predict household income (HINCP) using other variables in the data set using mulitple linear regression. Your final model should have a reasonable r squared and an overall “significant” p-value.
Do not use FINCP as a predictor! FINCP is family income, and saying that we can predict a households income if we know the familys income is very nearly a circular argument.
For the vast majority of Americans, family income and household income are the same thing.
Similarly, do not use any predictor variable (like OCPIP) that is calculated using household income.
If you already know household income (which is used to calcuate OCPIP), then it should be pretty darn easy to predict household income!
If any of your predictors have large p-values, be sure to justify why you are including them.
You should contribute and comment on the main body of the report, including correct grammar and diagram details.
To really impress, make a prediction for a particular household with a given set of predictor variables.