Keywords: consumption; Expenditure; Income; Econometrics; Heteroscedasticity
Research shows that after receiving education, some people get a return of 5 1% ~ 9 1%, while others only get a negative return of -32%. Why is there such a wide gap? It is necessary to examine what factors affect the rate of return on education. Through the analysis of data such as salary, age and years of education, a reasonable econometric model is established, the influencing factors of educational investment return are discussed, and effective suggestions are put forward.
I. assumptions and models
Since the reform and opening up, the economy and society have developed vigorously and the people's living standards have improved significantly. In addition to the basic consumption of living materials, people pay more attention to developing and enjoying the consumption of materials in order to improve their cultural literacy and cultivate their body and mind. In order to explore the influencing factors of per capita consumption expenditure in China, through literature analysis, per capita consumption expenditure (Y), per capita disposable income (X 1) and per capita government consumption expenditure (X2) are included in the model, and the hypothesis that per capita disposable income represents the economic strength of residents in the region is put forward. The per capita disposable income of residents in this area is high, and the living standard of residents in this area is high. Then per capita disposable income is positively related to per capita consumption expenditure; Government consumption expenditure enables residents to obtain goods and services for free or at low prices, so per capita government consumption expenditure is negatively related to per capita consumption expenditure.
The data studied in this paper are cross-sectional data with qualitative variables. In order to construct mathematical model and econometric model, the partial regression scatter plot is used to determine the model.
Figure 1 is a partial regression scatter plot between per capita consumption expenditure y and per capita disposable income X 1. It can be seen from the scatter plot that there is a linear positive correlation between y and X 1, and the basic form is a straight line, and the scattered points are relatively concentrated near the straight line; Fig. 2 is a scatter plot of partial regression between per capita consumption expenditure y and per capita government consumption expenditure X2. Different from the diagram 1, the scatter diagram shows that there is a linear negative correlation between y and X2, and the basic form is an oblique downward straight line. I hope my answer is helpful to you.