Water spilling from Jordan Dam into the Coosa River. Copyright D.C. Jackson.

The EconInformation Line Fitting Tool

The Line Fitting Tool

Introduction

The Line Fitting Tool provides a sneak peak into the art of regression analysis: finding the equation that best describes the relationship between a variable whose value you would like to predict (a dependent variable) and the variables whose values you believe can be used to predict the value of the dependent variable (the independent variables).  To learn how to use the Line Fitting Tool, visit Using the Line Fitting Tool;  to learn more about line fitting, visit What is Regression Analysis?

  1. Select Options

    1. Display data with results?  Yes No

    2. Functional form options
        Linear
        Semi-logarithmic (must have single independent variable, independent variable cannot have negative or zero values)
        Quadratic (single independent variable)
        Cubic (single independent variable)
        Power (single independent variable, none of the variables can have negative or zero values)
        Exponential (single independent variable, dependent variable cannot have negative or zero values)

  2. Enter Data

    1. Via The Sample Data Menu

      Select sample data from the following menu:

        Consumption Function:  Annual US Personal Consumption Expenditure and Disposable Personal Income, 1929-2003.
        Gasoline Consumption:  The quantities of gasoline consumed per capita and the prices paid per gallon in eleven countries in the early 1990's.  The differences in the prices paid are due primarily to differences in tax rates.
        River Levels:  41 observed levels on the Wilson Creek paddler's painted gage and the corresponding levels on the USGS's Watauga River online gage.
        Simple Regression Test Score Example:  fictitional scores earned on a midterm exam by fictitional students and the fictitional number of hours the students studied before the exam.
        Multiple Regression Test Score Example:  fictitional scores earned on a midterm exam by fictitional students, the fictitional number of hours the students studied before the exam, the fictitional number of hours the student slept the night before the exam, and student's fictitional aptitude for the exam's subject.

    2. Or File Upload

    3. Or Text Window

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