Multiple Linear Regression Equation for Economic Dimension of Standard of Living

• Main Authors: Nicoleta Mihaela Florea, Georgeta Mădălina Meghișan, Cristina Nistor
• Format: Article
• Language: English
• Published: Universitaria Publishing House 2016-11-01
• Series: Finanţe: Provocările viitorului
• Subjects: living standard; European Union; inflation; population density; population; multiple linear regression equation.
• Online Access: http://financejournal.ro/fisiere/revista/537695602018-011.pdf

The purpose of this analysis is to determine the signification of the following factors: population, population density and inflation rate to the measurement of the standard of living. The analysis takes into consideration demographic and economic data for a number of 10 EU member states. After calculating the standard of living in these countries, we analysed the impact of the mentioned factors using a multiple linear regression equation. We concluded that a part of the variation of the standard of living depends on the evolution of the three variables taken into consideration in the analysis.The standard of living of a population assesses the economic dimension of a country and the quality of life for a population.