What is a Regression?
What is a Regression?
Regression is the principal tool that economists use to assess the responsiveness of some outcome to changes in its determinants. This chapter presents the fundamentals of regression analysis. It discusses concepts such as dependent or endogenous variables, slope, t-statistic, intercept, continuous and discrete variables, proxy, p-value, F-statistics, and R2 or coefficient of determination. It interprets a somewhat complicated regression that represents the idea that earnings are affected by several determinants, with education among them.
Keywords: regression analysis, econometrics, earnings, education
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