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Choosing the Appropriate Regression from Nine Different Mathematical Models

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  • Ovidiu Gherasim

    ("Gh. Zane" Institute of Economic and Social Research, The Romanian Academy, Iaşi Branch (ICES – ARFI), Romania)

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.

Suggested Citation

  • Ovidiu Gherasim, 2022. "Choosing the Appropriate Regression from Nine Different Mathematical Models," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 240-247, September.
    • Handle: RePEc:ovi:oviste:v:xxii:y:2022:i:1:p:240-247
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    References listed on IDEAS

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    1. Ovidiu Gherasim, 2021. "Linear Fuzzy Regressions versus Power Fuzzy Regressions," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 278-285, December.
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      Keywords

      simple regressions; power model; exponential model; logarithmic model; hyperbolic model;
      All these keywords.

      JEL classification:

      • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
      • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
      • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
      • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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