Global Journal of Management and Business Research, B: Economics and Commerce, Volume 22 Issue 4

7 Global Journal of Management and Business Research Volume XXII Issue IV Version I Year 2022 ( ) B © 2022 Global Journals Racial and Community Wealth Disparity the Bane of HBCUs: A Wealth Ecology Model Relational Perspective IV. R esults a) Descriptive Statics The descriptive statistics in Table 01 shows the means of the key variables used for investigating the Hypothesis from the research questions. Table 1: Descriptive Statistics The above Table 01 shows that on the average, the African American student generally has the lowest median household wealth relative to other racial groups and the national average. b) Analyzing Correlation between the Variables First, the relationships between the key variables AA median household net worth, national median household net worth, non-AA median household net worth, and AA HBCU enrollment are analyzed. The results of the correlation test as shown in Table B.1 in appendix B based on data in Table A.3b, establishes that African American HBCU enrollment shows high correlation with AA net worth and non-African American average net worth of .681 and .559 respectively with all p<.05. However, National average median relationship strength of .436 is insignificant at p>.05 (95% CI). The preliminary assessment is that the most effect or influence on HBCU enrollment is exhibited by AA net worth. The net worth variables show relatively higher correlation relationships among them indicating their expected circular relationships as following the national household wealth trend. A stepwise regression modeling is used to examine their explanatory effects on HBCU enrollment. The result is shown in Table 02. Table 2: Wealth stepwise regression modeling The effects of the two independent variables on AA enrollment is investigated by adding each independent variable step-wisely to the regression modeling process. This helped to check and validate the strength of each variable’s effect or influence on the outcome variable AA HBCU enrollment. As shown in Table 02, no-AA net worth has no significant explanatory effect and did not appear in the stepwise regression modeling result. AA net worth with r=.681, p<.01 demonstrated the highest change in AA HBCU enrollment of 46.4% (95% CI). See Appendix B, Table B.2 for excluded variables. Table 3: Stepwise regression coefficients The regression coefficients are shown in Table 03 with their significance. In supporting the previous analysis on the explanatory effects of the variables, the resulting model constant and β i coefficients are statistically significant, t>2.6, p<.05 (95% CI) confirming the relationship that African American household wealth is a determinant of the changes in African American HBCU enrollment. This establishes the following