Enter Y, X₁, X₂, ... data side-by-side. Add/remove variables dynamically. Matrix algebra OLS estimation.
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Core Values of Development Sustenance: Sustenance is the ability to meet life-sustaining basic needs like food, clothing, shelter, health, and protection. It is the minimum level required for a good life. If any of these basic needs are absent or shorter in supply, the situation is known as absolute underdevelopment.
In the previous article, Assumptions of Classical Linear Regression Model (CLRM), we discussed the assumptions of CLRM. In this article, we discuss the variance and standard error of OLS estimators and the Gauss-Markov Theorem. It has been shown in the post Simple Linear Regression Model that the OLS estimates are
In the previous post, we discussed how to estimate a sample regression model, i.e., and . by applying the OLS method on sample data, both in simple and multiple linear regression models. You can read these posts here: A Numerical Example of Multiple Linear Regression by Hand and Simple Linear Regression
Introduction of Regression Through Origin Models So far we have studied models like Where intercept is present. An economic example of these models is the Keynes consumption function written as: Where is autonomous consumption i.e., level of consumption when income is zero. In some cases, we wish to impose the
Health, Education, and Economic Development Health and Education as Objectives of Development Education and health are basic objectives of development; they are important ends in themselves. Health is central to wellbeing, and education is essential for a satisfying and rewarding life. Health and Education as Inputs of Development At the
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