Supply is the amount of output of production that producers are willing and able to sell at a given price all other factors being held constant.

The following are the determinants of supply:

Price (P), Numbers of Producers (NP), Taxes (T)

Model Specification

Specification of model is to specify the form of equation, or regression relation that indicates the relationship between the independent variables and the dependent variables. Normally the specific functional form of the regression relation to be estimated is chosen to depict the true supply relationships as closely possible.

The table presented below gives the hypothetical quantity supplied for a particular product (Qs) of a particular place given its price per kilo (P/kl), the Numbers of producers (NP), and tax per kilo (T/kl) for the period 2002 to 2011. (The quantity Supplied is expressed as kilo in millions)

...
Logistic regression
In statistics, logistic regression, or logit regression, is a type of probabilistic statistical classification model.[1] It is also used to predict a binary response from a binary predictor, used for predicting the outcome of acategorical dependent variable (i.e., a class label) based on one or more predictor variables (features). That is, it is used in estimating the parameters of a qualitative response model. The probabilities...

...Regression Analysis: A Complete Example
This section works out an example that includes all the topics we have discussed so far in this chapter.
A complete example of regression analysis.
PhotoDisc, Inc./Getty Images
A random sample of eight drivers insured with a company and having similar auto insurance policies was selected. The following table lists their driving experiences (in years) and monthly auto insurance premiums.
Driving Experience (years) Monthly...

...Answers to Midterm Test No. 1
1. Consider a regression model of relating Y (the dependent variable) to X (the independent
variable) Yi = (0 + (1Xi+ (i where (i is the stochastic or error term. Suppose that the
estimated regression equation is stated as Yi = (0 + (1Xi and ei is the residual error term.
A. What is ei and define it precisely. Explain how it is related to (i.
ei is the residual error term in the sample...

...you
cannot consult the regression R2 because
(a) ln(Y) may be negative for 0 < Y < 1.
(b) the TSS are not measured in the same units between the two models.
(c) the slope no longer indicates the effect of a unit change of X on Y in the log-linear
model.
(d) the regression R2 can be greater than one in the second model.
1
(v) The exponential function
(a) is the inverse of the natural logarithm function.
(b) does not play an important role in modeling nonlinear...

...Regression Analysis Exercises
1- A farmer wanted to find the relationship between the amount of fertilizer used and the yield of corn. He selected seven acres of his land on which he used different amounts of fertilizer to grow corn. The following table gives the amount (in pounds) of fertilizer used and the yield (in bushels) of corn for each of the seven acres.
|Fertilizer Used |Yield of Corn...

...Regression Analysis (Tom’s Used Mustangs)
Irving Campus
GM 533: Applied Managerial Statistics
04/19/2012
Memo
To:
From:
Date: April 19st, 2012
Re: Statistic Analysis on price settings
Various hypothesis tests were compared as well as several multiple regressions in order to identify the factors that would manipulate the selling price of Ford Mustangs. The data being used contains observations on 35 used Mustangs and 10 different...

...linear (i.e. if the relationship between y and x is linear). Next perform residual analysis and test for violation of assumptions. (Let y = arterial oxygen and x = blood flow).
twoway (scatter y x) (lfit y x)
regress y x
rvpplot x
2. Since regression diagnostics failed, we transform our data.
Ratio transformation was used to generate the dependent variable and reciprocal transformation was used to generate the independent variable.
3. Check if the model is...

...REGRESSION ANALYSIS
Correlation only indicates the degree and direction of relationship between two variables. It does not, necessarily connote a cause-effect relationship. Even when there are grounds to believe the causal relationship exits, correlation does not tell us which variable is the cause and which, the effect. For example, the demand for a commodity and its price will generally be found to be correlated, but the question whether demand depends on price or...