Data visualization is one of the important and interesting aspect of any software. In the landscape of data analysis and interpretation, effective visualization is key to unlocking insights and communicating findings. Like other softwares, R can also visualize data in form of bar charts, Line Plots and other graphs etc. However, data visualization in R …
What are outliers? Outliers are data points in a dataset that are different from the rest of the data. They can have immensely high or low values and can skew statistical analysis and models. Outliers can rise for various causes, including measurement errors, inaccurate data entry, or true abnormal events in the data. Finding and …
When working with linear regression models, it’s essential to assess the model’s assumptions and diagnostic tests. These diagnostics help us in ensuring the reliability of our regression analysis. In simple terms, they ensure that the results are correct and unbiased. In this tutorial, we will only focus on three crucial diagnostic tests: normality of residuals, …
Data comes in various formats, and managing multiple data files can be a difficult task. Often, the data format we are working with is a mix of CSV, Excel, and text files, each containing valuable information. Combining these files into a single, structured dataset is important for effective data analysis. This article is based on …
Introduction Many econometric models often get afflicted by what is called the endogeneity problem. This happens when one or more independent variables are correlated with the error term (omitted variable bias), or when the dependent and independent variables jointly determine each other (simultaneity bias). This problem needs to be addressed because in the presence of …
Two-Stage Least Squares (2SLS) Regression in Stata Read More »
