Question

"Money is the root of all evil"

Create 3 specific measurable input variables (independent variables) and one output variable (dependent variable) that can be used to create a mathematical model.

1) Write those variables, explain them if necessary.

2) For each variable, expalin how you would measure it.

3) Is your model a cause and effect model (causal model) or not? Explain your reasoning in one sentence or less.

Answer 1

1) Dependent variable: Income of an IT employee

Independent variables: Education level, Years of experience, No. of technical certifications

2) Income of an IT employee: Easily measurable if the income can be collected through a survey

Education level: Can be measured as the grade upto which the employee has studied

Years of Experience: Measured as no. of years of experience of the employee

No of technical certifications: No. of certifications of technical skills, measures as a numeric quantity

3) This model is a cause and effect model since the income of the employee is clearly dependent upon the education level, experience and technical skills. A person ranking low on any of these parameters would be expected to earn relatively lesser.