Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Construction of an explanatory model?
Construction of a sample: To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 individuals).
Note that for time series data, much less is required.
Data collection: Reliable data should be collected, either from a monitoring system or from a questionnaire survey or from a combination of both.
Calculation of coefficients: Coefficients can be calculated comparatively easily, by using statistical software which is both accessible and affordable to PC users.
Test of the model: The model aims to explain as much of the variability of observed changes as possible. To check how useful a linear regression equation is, tests can be performed on the square of correlation coefficient r. This tells us what percentage of variability in the y variable can be explained by the x variable. A correlation coefficient of 0.9 would demonstrate that 81% of the variability in Y is captured by variables X1-k used in the equation. The part which remains unexplained represents the residue (ε). So the smaller the residue better is the quality of model and its adjustment. Analysis of residues is a very significant step: it's at this stage that one sees the degree to that the model has been adapted to phenomena one wants to explain. It is residue analysis which also enables one to tell whether the tool has made it possible to estimate effects in a reasonable way or not. If significant anomalies are detected, regression model must not be used to estimate effects and original causal model must be re-examined, to see if further predictive variables can be introduced.
example problems for the types of pricing
The demand curve for the product of a monopolist is a straight line such that quantity just falls to zero at a price of Rs 20 per unit and that the maximum quantity (at zero price)
Using the same simple macro model we developed in Module 2: a. Show what will happen to national income (GDP) if the administration implements another $100 (billion) stimulus s
THE GOVERNED ECONOMY The governed economy contains central authorities often simply called "the government" - who levy taxes on firms and households and which engages in numer
The pigou effect, also called the real balance effect, is named after the well known Cambridge school economist Arthur Cecil pigou who had first clearly formulated the relationship
explain in detail ramsey pricing with example?
Interest rates Decreasing the rate of interest may not encourage investment but increasing the interest rate tends to lock up liquidity in the financial system.
The UN's Integrated Programme for Commodities Most of the political pressure for ICAs comes from spokesmen for the developing countries. This is reflected in countless resolu
Real Rigidities The New Keynesian economists rely both on nominal and real rigidities to arrive at their conclusion that nominal changes in money supply have real, and not
Q. What is Production and Cost Function? Production functions and cost functions are the keystones of managerial and business economics. A production function is a mathematical
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd