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Autor: Jacek Welc
ISBN-13: 9783319711553
Einband: Book
Seiten: 286
Gewicht: 568 g
Format: 238x156x25 mm
Sprache: Englisch

Applied Regression Analysis for Business

Tools, Traps and Applications
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Jacek Welc obtained his Ph.D. in Economics for his thesis on "Autoregressive Distributed Lags in Forecasting Regional Business Cycles" in 2008 from the Wroclaw University of Economics, after having graduated there with a Master of Economics in 2003. Besides having published more than forty research papers, Welc has been active in professional corporate finance services, including financial statement auditing and company valuations, which mainly involve companies listed on the Warsaw Stock Exchange.
Offers business professionals a hands-on introduction to regression analysis
Preface ........................................................................................................................... 1
Chapter 1 - Basics of regression models .................................................................. 2 1.1. Types and applications of regression models. .............................................................................. 2 1.2. Basic elements of a single-equation linear regression model. ..................................................... 4 Chapter 2 - Relevance of outlying and influential observations for regression analysis ..................................................................................................... 7 2.1. Nature and dangers of univariate and multivariate outlying observations. ................................ 7 2.2. Tools for detection of outlying observations. ............................................................................. 19 2.3. Recommended procedure for detection of outlying and influential observations. .................... 32 2.4. Dealing with detected outlying and influential observations. .................................................... 33 Chapter 3 - Basic procedure for multiple regression model building ............. 35 3.1. Introduction. ............................................................................................................................... 35 3.2. Preliminary specification of the model. ...................................................................................... 35 3.3. Detection of potential outliers in the dataset. ........................................................................... 40 3.4. Selection of explanatory variables (from the set of candidates). ............................................... 48 3.5. Interpretation of the obtained regression' structural para meters. ............................................ 57 Chapter 4 - Verification of multiple regression model ...................................... 60 4.1. Introduction. ............................................................................................................................... 60 4.2. Testing general statistical significance of the whole model: F test. ........................................... 61 4.3. Testing the normality of regression residuals' distribution. ....................................................... 63 4.4. Testing the autocorrelation of regression residuals. .................................................................. 72 4.5. Testing the heteroscedasticity of regression residuals. .............................................................. 87 4.6. Testing the symmetry of regression residuals. ....................................................................... .... 97 4.7. Testing the randomness of regression residuals. ..................................................................... 106 4.8. Testing the specification of the model: Ramsey's RESET test. ................................................. 115 4.9. Testing the multicollinearity of explanatory variables. ............................................................ 121 4.10. What to do if the model is not correct? .................................................................................. 125 4.11. Summary of verification of our model .................................................................................... 130 Chapter 5 - Common adjustments to multiple regressions .............................. 132 5.1. Dealing with qualitative factors by means of dummy variables. ............................................. 132 5.2. Modeling seasonality by means of dummy variables. ....... ...................................................... 136 5.3. Using dummy variables for outlying observations. .................................................................. 148 281 5.4. Dealing with structural changes in modeled relationships. ..................................................... 155
This book offers hands-on statistical tools for business professionals by focusing on the practical application of a single-equation regression. The authors discuss commonly applied econometric procedures, which are useful in building regression models for economic forecasting and supporting business decisions. A significant part of the book is devoted to traps and pitfalls in implementing regression analysis in real-world scenarios. The book consists of nine chapters, the final two of which are fully devoted to case studies.
Today's business environment is characterised by a huge amount of economic data. Making successful business decisions under such data-abundant conditions requires objective analytical tools, which can help to identify and quantify multiple relationships between dozens of economic variables. Single-equation regression analysis, which is discussed in this book, is one such tool. The book offers a valuable guide and is relevant in various areas of economic and business analysis, including marketing, financial and operational management.
Autor: Jacek Welc, Pedro J. Rodriguez Esquerdo
Jacek Welc obtained his Ph.D. in Economics for his thesis on "Autoregressive Distributed Lags in Forecasting Regional Business Cycles" in 2008 from the Wroclaw University of Economics, after having graduated there with a Master of Economics in 2003. Besides having published more than forty research papers, Welc has been active in professional corporate finance services, including financial statement auditing and company valuations, which mainly involve companies listed on the Warsaw Stock Exchange.

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Autor: Jacek Welc
ISBN-13 :: 9783319711553
ISBN: 3319711555
Erscheinungsjahr: 22.01.2018
Verlag: Springer-Verlag GmbH
Gewicht: 568g
Seiten: 286
Sprache: Englisch
Sonstiges: Buch, 238x156x25 mm, 66 farbige Abbildungen, 66 farbige Tabellen, Bibliographie