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To detect autocorrelation
There is no remedy for Autocorrelation. Instead of linear regression, we can use
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Ordinary least squares, or linear least squares, estimates the parameters in a regression model by minimizing the sum of the squared residuals.
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In order to prevent Heteroscedasticity, we need to
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If the pattern doesn't looks like a Straight Line, then we need to apply
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OLS Assumptions are the Conditions that we need to consider them before performing Regression Analysis.
Some OLS Assumptions are:
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To fix Multicollinearity:
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CURATED FROM
These are some of the Assumptions to be pondered while Applying Ordinary Least Square Method and Performing Regression Analysis.
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Quételet, the mathematician turned astronomer who was performing social physics miracles as the central figure of Belgium science, got better in his game by learning probability theory and making use of his polymath brain. His work included estimations and calculations using the available data an...
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