Pearson correlation coefficient and The ANOVA Bivariate Regression

As a lay audience, it is possible to understand what it meant to be positively correlated or negatively correlated. Pearson correlation coefficient has a standard index with a range value from -1.0 to +1.0, and with 0 specifying no relationship (Laureate Education, 2016b). The closer we move to the value of 1 the stronger the relationship. Therefore, our positive value of 0.735 shows a close range of 1. Therefore, the coefficient is a 73% positively correlated between respondent income in constant dollars and family income in constant dollars. The ANOVA Bivariate regression can show the overall statistical significance of linear regression model.  For example, the significance level is showing 0.000, which is below the conventional 0.05 onset. We can likewise see that our unstandardized coefficients of family income in constant dollars is 0.554. This tells us how for every one unit increase in our income of independent variable, our dependent variable will increase by similar level as well.