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On Some Statistical Models for Assessing the Evolution of Sales of Certain Products

Author

Listed:
  • Cătălin Ilie Mitran

    (University of Petroşani, Romania)

Abstract

The mathematical statistic models are very used in solving of many types of engineering, economic and other practical issues. This paper aims to analyse the evolution of the prices of a particular type of a product for one year. For this purpose, will be used the smallest squares method which in this case is equivalent to the linear regression method and also some typical mathematical statistics methods. The effectiveness of the proposed methods should be tested by verifying some practical hypothesis such as those of the linear regression method.

Suggested Citation

  • Cătălin Ilie Mitran, 2016. "On Some Statistical Models for Assessing the Evolution of Sales of Certain Products," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 16(2), pages 53-60.
  • Handle: RePEc:pet:annals:v:16:y:2016:i:2:p:53-60
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    More about this item

    Keywords

    Linear regression method; econometric model; three sigma rule; residual variable;
    All these keywords.

    JEL classification:

    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General

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