More Linked-In Q&A: Can anyone give me guidance on performing a two-stage least-squares analysis using Excel, Minitab 15, or Statistica 9? I’m taking an economics course and am required to perform this analysis, but only have experience in Excel. I’m not certain that Excel can handle this, so I downloaded trial versions of Minitab 15 and Statistica 9 but don’t have much experience with either program. Any guidance or instructions would certainly help. Thanks in advance… My answer: First, I will try to summarize what two-stage least squares regression (2SLS) is, for common understanding. 2SLS is a method for regression […]
Daily Archives: February 5, 2010
2 posts
Again, I find myself drawn-in to a Linked-In question that forces me to clearly articulate my understanding: Question: Could some one explain the ARIMA forecasting model in a simplified manner? My Answer: An autoregressive integrated moving average (ARIMA) models are best understood in the context of Box–Jenkins methodology, who’s steps are as follows: Model identification and model selection. Parameter estimation. Model checking. Box–Jenkins methodology applies autoregressive moving average (ARMA) or ARIMA models to find the best fit of a time series to past values of a time series, in order to make forecasts and understand the underlying process/es. Briefly put, […]