Chapter 1

Background Issues for Regression Analysis

Chapter 1 Preview

When you have completed reading this chapter you will:

• Realize that this is a practical guide to regression not a theoretical discussion.

• Know what is meant by cross-sectional data.

• Know what is meant by time-series data.

• Know to look for trend and seasonality in time-series data.

• Know about the three data sets that are used mostly for ­examples in the book.

• Know how to differentiate between nominal, ordinal, interval, and ratio data.

• Know that you should use interval or ratio data when doing regression.

• Know how to access the “Data Analysis” functionality in Excel.


The importance of the use of regression models in modern business and economic ...

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