Log Models & Elasticity, plus Two Classic Pitfalls
This lesson is part of the course
In this lesson
You fit a log-log demand model with LN to read the price elasticity directly, check two predictors for multicollinearity with a correlation matrix and flag an extrapolation before anyone trusts the forecast.
Buy the course once for $9.99 to unlock every lesson and lab, the final exam and the certificate – lifetime access, no subscription.
Lessons in this course
- Scatter Plots & Correlation: Is There a Linear Relationship? Locked
- Simple Linear Regression by Hand: Least Squares, R² & Standard Error Locked
- Is the Slope Real? t Statistic, p-Value & Confidence Interval Locked
- Predicting a New Store: Point Forecast & Prediction Interval Locked
- Multiple Regression with LINEST: Three Drivers at Once Locked
- Dummy Variables: Regions and Seasons in a Regression Locked
- Residual Analysis: Residual Plot, Standardised Residuals & Outliers Locked
- Log Models & Elasticity, plus Two Classic Pitfalls Locked