Taila asks, “Prof. Empirie introduced us to longitudinal/panel datasets in chapter 2, but we have not discussed anything on using them. I was wondering if you could provide us with more information.” Prof. Metric responds enthusiastically that we will learn panel data analysis this week. He says that upon finishing this chapter, we will be able to:
1. Explain the nature and advantages of learning panel data techniques;
2. Master panel data techniques in obtaining regression coefficients;
3. Discuss the goodness-of-fit issue that arises with the panel data technique;
4. Use Excel to carry out corresponding analyses.
Nature of Panel Data
Prof. Metric reminds the class that a panel dataset combines a cross-sectional ...