Hi, need to submit a 1500 words essay on the topic Restaurants and Happiness/Life Satisfaction.
The locations of the restaurant are identified in undeveloped countries and used to determine whether individual life satisfaction in given regions which increases or decreases across parallel income brackets. Independent variables were identified from the World Value Survey of individuals living in undeveloped countries to measure happiness/life satisfaction. This cluster of variables which are called subjective utility variables in this study, were used to support the Life Satisfaction score as it relates to happiness. The fixed effects OLS model is used as control for the number of restaurants in each region, to test the impact whether there is a restaurant or not in a region and to determine the effect of additional the restaurants on individual life satisfaction and happiness. For the purpose of this research, the relationship between the LIFE SATISFACTION score and the data associated with 12-15 subjective utility variables from the World Value Survey were considered. The data which was collected from the Internet was put to perform regression analysis to find out whether there exist some relationship between number of restaurants, mean life satisfaction and number of individuals. Table 6 shows that there is a weak correlation between these three variables which is depicted in the correlation matrix therein. Hence it is assumed that there exists no herteroscedasticity present. So the regression equation which represents the dependent variable as mean life satisfaction by keeping number of restaurants.
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