CORRELATION-REGRESSION ANALYSIS OF GDP AND AVERAGE WAGE INDICATORS IN UKRAINE

Svitlana KOLODII

Abstract


The article explores the relation between GDP per employee and average wage. The calculations were made on the basis of the data of the State Statistical Service of Ukraine for a 24-year period (from 1995 to 2018). The studied indicators are reduced to 1995, which is taken as the baseline, and also adjusted for cumulative coefficients of consumer price indices for each year in relation to the base year to obtain real values of indicators in the prices of the base period - 1995.

Using correlation-regression analysis, the work outlines trends and the degree of correlation between GDP per employee and average wage. It is proved that there is a direct linear dependence and a close relation between the studied variables. Since wages are the main form of income of our country's population, we can say that there is also a regression between the real average monthly GDP per employed person and the level of household income. Estimation of the extent of this regression, correlation coefficients and determinations will be explored in our future work.


Keywords


average monthly GDP per employee; the average monthly salary; consumer price index; regression coefficient; correlation coefficient; coefficient of determination; statistical significance; Fisher's F-test; Student's t-test.

References


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