Preface

Regression analysis is simple conceptually. In determining the association between a variable of interest and one or more other variables, regression analysis plots an imaginary line through the data such that the combined distances of all the data points from the line is the smallest possible. It portrays a relationship between one or more explanatory variables and a single response variable. The line, a one-dimensional object, is depicted in two-dimensional space. When there are two explanatory variables, the regression model represents a plane in three-dimensional space. The dimension of the model and the space it is depicted in are augmented as the number of independent variables is increased.

This relationship between the response ...

Get Regression for Economics, Second Edition now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.