As the title states, this book is about using relatively easy-to-perform methods in order to find a better econometric model—but methods that don’t rely on any theory that is specific to a particular field. The methods employed in this book rely entirely upon the statistical assumptions underlying any ordinary least squares (OLS) type of econometric model, and, therefore, transcend all disciplines.
Regression analysis is perhaps the most widely used method for evaluating data. It is used in academics, large and small companies, and some may even use it to forecast their household budgets (although these individuals are probably rare). One of the issues some have had over the years, however, is the fact that sometimes their models provide ...
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