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Few Determinats Of The Average Amounts Of Money Tourists Spend While Visiting Alba County. A Regression Model Considering White'S Heteroskedasticity- Consistent Standard Errors & The Covariance And Different Weights Techniques

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  • Andreea Cipriana Muntean
  • Iulian Bogdan Dobra

Abstract

The aim of this research is to analyse the average expenditure of thetourists visiting Alba County during 2013-2015, and the way this is influenced by differentindependent variables. Into Equation Estimation, Least Squares Options, we outlined the nextspecific estimation settings: for Coefficient covariance matrix we selected ‘White‘ and forweights options we pointed out Inverse standard deviation for Type, we entered NO_DAYS in theWeight series field, and for Scaling we choose Average mode. In the log-log regression model,half of the predictors will determine an increase and the other half will determine a decrease inthe tourists' average expenditure. According to the model, the results show that if the number ofdays at the destination increases by 1 %, the expenditures will increase by 0.58%, and if thenumber of visits increases by 1 % than the expenditures will decrease by 0.64%. Of all theexogenous dichotomous variables, the one related to 56_65 age (i.e. tourist between 56 and 65years old) contributes most to the decrease of the estimated average expenditure, by about1.16%, and the one that contributes most to their increase is ‘staff amiability‘, by about 0.70%.In conclusion, we accomplished to estimate the equation by using White‘s heteroskedasticity-consistent standard errors & covariance and different Weights options. The results show that in49% of the cases, tourists' average expenditure increases and it decreases in 51%.

Suggested Citation

  • Andreea Cipriana Muntean & Iulian Bogdan Dobra, 2016. "Few Determinats Of The Average Amounts Of Money Tourists Spend While Visiting Alba County. A Regression Model Considering White'S Heteroskedasticity- Consistent Standard Errors & The Covariance And Di," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(18), pages 1-4.
  • Handle: RePEc:alu:journl:v:2:y:2016:i:18:p:4
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    Keywords

    expenditure; tourist; coefficient covariance matrix; WLS; log-log model; ANCOVA.;

    JEL classification:

    • Z31 - Other Special Topics - - Tourism Economics - - - Industry Studies
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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