From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in th...From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in the units of the \(Y\) variable.
From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in th...From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in the units of the \(Y\) variable.
This page discusses Ordinary Least Squares (OLS) regression and the concept of elasticity, which measures responsiveness to market changes like price or income. It outlines various estimations, includ...This page discusses Ordinary Least Squares (OLS) regression and the concept of elasticity, which measures responsiveness to market changes like price or income. It outlines various estimations, including four cases: 1) the impact of unit changes in \(X\) on \(Y\); 2) a semi-log approach for percentage changes; 3) assessing unit changes in \(Y\) from percentage changes in \(X\); and 4) a log-log case for direct elasticity estimates.
From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in th...From the calculus, the slope of the line is the first derivative and tells us the magnitude of the impact of a one unit change in the \(X\) variable upon the value of the \(Y\) variable measured in the units of the \(Y\) variable.