Choosing the Appropriate Regression from Nine Different Mathematical Models

Ovidiu Gherasim ()
Additional contact information
Ovidiu Gherasim: "Gh. Zane" Institute of Economic and Social Research, The Romanian Academy, Iaşi Branch (ICES – ARFI), Romania

Ovidius University Annals, Economic Sciences Series, 2022, vol. XXII, issue 1, 240-247

Abstract: Choosing the most appropriate mathematical model for establishing a simple regression between two variables which represent two economic indicators or from other scientific fields is an approach that involves many and often quite difficult actions. In the article we rigorously presented the stages to be followed in order to obtain the defining parameters for nine models: linear, power (double logarithmic), exponential, logarithmic, three hyperbolic models (the third is also a TÓ§rnqvist-type model) and two exponential-hyperbolic models. The final stage in establishing the most appropriate model is less discussed in the paper. Thus, the simple regression for which the model has the highest Pearson correlation coefficient is chosen as optimal in the article.

Keywords: simple regressions; power model; exponential model; logarithmic model; hyperbolic model (search for similar items in EconPapers)
JEL-codes: C02 C24 C40 C50 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/RO/2022-2/Section%203/9.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxii:y:2022:i:1:p:240-247

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().