Demand Estimation by regression analysis

Added By MaihanNijat - Nov 28, 2011 - Economics


What is regression? The term regression was first introduced by Francis Galton In a famous paper Galton found that there was a strong tendency for all tall parents to have tall children and for short parents to have short children Meaning that average height of children born tends to move towards the average height of the parents This is universal law of Galton and is confirmed by his friend Karl Pearson Regression means to move towards the center to average




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