Least Squares Method and Empirical Modeling: A Case Study in a Mexican Manufacturing Firm

Raul Ignacio Hernandez, Roberto Sarmiento and Cesar Mendez-Barrios

A chapter in Empirical Modeling and Its Applications from IntechOpen

Abstract: Empirical modeling (EM) has been a useful approach for the analysis of different problems across a number of areas/fields of knowledge. As is known, this type of modeling is particularly helpful when parametric models due to a number of reasons cannot be constructed. Based on different methodologies and approaches (e.g., Least Squares Method, LSM), EM allows the analyst to obtain an initial understanding of the relationships that exists among the different variables that belong to a particular system or a process.

Keywords: empirical modeling; exploratory data analysis; least squares; linearization; transportation logistics (search for similar items in EconPapers)
JEL-codes: C60 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:102480

DOI: 10.5772/63151

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