Applications of three distinct regression models in GDP predication

Tiankai Duan; Wenbo Niu; Dehan Zang

doi:10.54254/2753-8818/39/20240592

Research Article

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Published on 21 June 2024

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Duan,T.;Niu,W.;Zang,D. (2024). Applications of three distinct regression models in GDP predication. Theoretical and Natural Science,39,86-95.

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Applications of three distinct regression models in GDP predication

Tiankai Duan *^,1, Wenbo Niu ², Dehan Zang ³

¹ Lanzhou University
² Qingdao No. 19 high school
³ Qingdao No. 58 high school

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2753-8818/39/20240592

Abstract

This paper introduces the basic theory and formula of linear regression, multiple linear regression, and nonlinear regression. Linear regression is one of the commonly used analysis methods in statistical analysis, which can predict the trend of model data change to a certain extent. Multiple linear regression involves more variables to predict and analyze the change trend of data, and can predict the change of data more accurately. Nonlinear regression can predict the model of arbitrary relationship between variables, thus obtaining more accurate prediction data. In the selection of regression analysis method, data characteristics and problem background should be considered, and model assumptions and validation should be paid attention to ensure accuracy and reliability. In the applications, the paper discusses the application of simple linear regression to Okun’s law and delves into the complex relationship between multiple variables and gross domestic product (GDP). Finally, it uses nonlinear regression equations to analyze the global inflation rate and the annual data, and proves that there is a nonlinear relationship between the two and a downward trend, which is supported by analyzing the data of Australia and Canada.

Keywords

linear regression, multiple linear regression, nonlinear regression, Okun’s law

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References

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Cite this article

Duan,T.;Niu,W.;Zang,D. (2024). Applications of three distinct regression models in GDP predication. Theoretical and Natural Science,39,86-95.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Mathematical Physics and Computational Simulation

Conference website: https://www.confmpcs.org/

ISBN：978-1-83558-463-7(Print) / 978-1-83558-464-4(Online)

Conference date: 9 August 2024

Editor：Anil Fernando

Series: Theoretical and Natural Science

Volume number: Vol.39

ISSN：2753-8818(Print) / 2753-8826(Online)

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