Abstract
A method is suggested for estimating regression parameters for a model E(Y = a + bX + ce-∂t, where observations on Y, X and t are given. This model has been extensively used in economics for relating optimum output of a production process with the available labor and services. This method is optimum in the sense it involves minimizing the error sum of squares for the linear regression of Y on X and e-∂t over the range ∂>0. The limits as ∂ → 0 and ∂ → ∞ are obtained and the computational procedure is discussed.
Original language | English |
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Pages (from-to) | 51-58 |
Number of pages | 8 |
Journal | Applied Mathematics and Computation |
Volume | 50 |
Issue number | 1 |
DOIs | |
Publication status | Published - Jul 1992 |
Externally published | Yes |