Multiple Regression

A. A. Walters
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A. A. Walters: London School of Economics

Chapter 5 in An Introduction to Econometrics, 1970, pp 120-144 from Palgrave Macmillan

Abstract: Abstract We have examined extensively the case when one variable depends upon one other. In practice, however, one rarely has a theory as simple as this. Normally one can only explain the dependent variable in terms of many variables. The quantity demanded for example may depend not merely on the relative price of the good but also the relative prices of substitutes and complements, and the level of personal disposable income. The theory of demand indicates the signs of the coefficients — negative for its own price and for prices of complements and positive for prices of substitutes and personal income. The obvious way of developing a model to test this hypothesis is to extend the simple regression model.

Keywords: Residual Variance; Relative Price; Simple Regression; Multiple Correlation Coefficient; Partial Regression Coefficient (search for similar items in EconPapers)
Date: 1970
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DOI: 10.1007/978-1-349-15277-3_5

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