From the course: Data, Economic Modeling, and Forecasting with Stata
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Univariate and multivariate linear regression models - Stata Tutorial
From the course: Data, Economic Modeling, and Forecasting with Stata
Univariate and multivariate linear regression models
- One of the most common ways people analyze data and build forecast models is using a linear regression model. It's a way that you predict a data series by making the inputs fit into an equation that results in a straight line, hence the term, linear regression. These models have one or more independent variables. Those are the inputs of the model. They also have a dependent variable. That's the output of the model. There's only one output, but there can be more than one input to derive that model. For example, a dependent variable might be your income and the independent variables, the inputs that impact your income, would be things like your level of education, how many years work experience you have, your age, what city you live in, and a number of other factors. None of those is impacted by your wage, but your wage is impacted by those different independent variables. That's why your wage is dependent on them.…
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