Econometrics Tutor Columbia University NY
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Available in-person and online in New York. Our tutors are experts in topics such as classical linear regression model, multiple regression, Gauss Markov assumptions, dummy variables, fixed effects, random effects, instrumental variables, logit and probit models.
The linear regression model is given by
- is the dependent variable,
- is the independent variable,
- is the intercept,
- is the slope,
- is the error term
- is the sample size
The resulting estimators for and , denoted by and are derived using the OLS technique.
OLS predicted values
Question: what is the difference between and
R-Squared is the ratio of ESS to TSS
R-squared explains the proportion of variation in data explained by the model. Higher R-squared implies that our model is able to explain a higher proportion of variation in the dependent variable.
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