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Published byMatthew Tenneson Modified about 1 year ago

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Financial Situations in Each Province Did you ever wonder which province would be best to start off a new life financially?

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Introduction Compares financial related data to time –Individual and family income, employment Compares province to province –From Newfoundland to British Columbia

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Individual Income To find out which province would have the highest income for an individual in the future Compares average and median income with time Try to find trends and relationships for prediction and analysis

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The two top provinces with the highest average income is Ontario and Alberta Alberta is closing the gap from $3,500 to $200 from 2000 to 2004 Ontario has a negative slope of $240 per year while Alberta has a positive slope of $520

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This graph shows the increase or decrease rate from 2000 to 2004 for each province Alberta is the only province that has an increase rate for 2003 and 2004

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The median earning for Alberta has surpassed the median earning for Ontario in 2004 The difference was $2,600 in 2000 and now Alberta has a higher median earning than Ontario by $700 Ontario has a negative slope of $470 per year while Alberta has a positive slope of $230 per year

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Alberta has the highest increase rate in 2004 and a small decrease rate in 2002 and 2003 Only Quebec and Manitoba had a small increase in 2004 Ontario had a decrease rate in both 2003 and 2004

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Individual Income Ontario and Alberta are the top two provinces with the highest average and median income Average and median income for Ontario are decreasing as years goes by while Alberta is increasing Alberta has surpassed Ontario in median income in 2004 and the trends also shows that Alberta will surpass Ontario in average income in the future

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Family income To find out which province would have the highest income for a family in the future Compares median income and per capita income with time Per capita income is the total income made by a family and then divided by the number of members in that family

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Shows increase rate for per capita income Saskatchewan has the highest increase in 2003 and Alberta has the highest increase in 2004 Saskatchewan has a total increase of 8.18% in 2003 and 2004 while Manitoba has 9.81% and British Columbia has 8.25%

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Alberta has the highest per capita income from 2001 to 2004 and it’s higher than Ontario by $1,600 The difference between Ontario and Alberta is increasing ($600 in 2002, $700 in 2003 and $1,600 in 2004)

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In 2003, Newfoundland and Nova Scotia had the highest increase rate but the increase rate seems to be decreasing over time and the increase rate for Nova Scotia for the two years are about the same, so there wouldn’t be much difference in the future In 2004, Alberta and British Columbia had the highest increase rate and also Alberta has a higher increase rate in 2003

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Alberta has the highest median family income from 2001 to 2004 The difference is stretching from $1,100 in 2002 to $2,500 in 2003 to $3,900 in 2004 The rest of the provinces are increasing slowly

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Family Income The top two median income and per capita income are Ontario and Alberta British Columbia has the second highest increase rate and Alberta has the highest increase rate British Columbia might be able to have a higher family income in the future

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Employment To find the provinces with the highest employment rate Compares employment increase in percentage with time Compares employment with population Only used some chosen provinces because of its higher income and employment rate

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These are the only two graphs that has a high r2. Newfoundland had a r2 of 0.45 but since I’m only interested in provinces with the highest income, I didn’t add it to the PowerPoint. All the rest of the provinces has a r2 of less than 0.1 so the data is everywhere Since both graphs has a high r2, it means the line of best fit represents the data well. So for New Brunswick, the % growth rate for employment would increase by around 0.009% every year and for British Columbia, it would increase around 0.007% I made all the scale for y-axis the same so I can see the steepness for each line of best fit. The steeper it is, the faster the % growth rate would increase

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Employment rate is the whole population of a province divided by the number of earners Alberta has the highest employment rate with 61.81% in 2004 followed by PEI with 59.48% The employment rate for every province is increasing and some are levelling out from 2003 to 2004 (Manitoba, Saskatchewan, Newfoundland)

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Employment Alberta has the highest employment rate with 61.81% in 2004 and seems like it’s still rising PEI has the second highest employment rate with 59.48% in 2004 The % growth rate for most provinces are everywhere (not enough data) and the only two provinces with a r2 close to 1 are New Brunswick and British Columbia, and New Brunswick seems to be increasing faster

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CPI (Consumer Price Index) Divided into eight major components (“food”, “shelter”, “household operations & furnishings”, “clothing & footwear”, “transportation”, “health & personal care,” “recreation, education & reading”, and "alcoholic beverages & tobacco products“) See which province has the lowest CPI and the trend for i

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CPI (Consumer Price Index) Divided into eight major components (“food”, “shelter”, “household operations & furnishings”, “clothing & footwear”, “transportation”, “health & personal care,” “recreation, education & reading”, and "alcoholic beverages & tobacco products“) The lower the CPI, the cheaper the items in each components are See which province has the lowest CPI and the trend for it

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Two provinces with the lowest slope (increase in CPI) are British Columbia and Manitoba All the r2 for each provinces are close to 1 so the line of best fit would pretty accurately represents the data The CPI for Manitoba would increase 2.5 every year and around 2.4 for British Columbia

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Conclusion Alberta has the highest median income and is increasing the fastest for average and median income for an individual Alberta has the highest median family income and per capita income It also has the highest employment rate Alberta would be the best province to live in financially since because of it’s high income and fast increasing rates

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