Case Number: 7-112-001, Year Published: 2012
HBS Number: KEL635
Economics, Market Research, Statistical Methods
This is the first in a series of lecture notes which, if tied together into a textbook, might be entitled “Practical Regression.” The purpose of the notes is to supplement the theoretical content of most statistics texts with practical advice based on nearly three decades of experience of the author, combined with over one hundred years of experience of colleagues who have offered guidance. As the title “Practical Regression” suggests, these notes are a guide to performing regression in practice. This technical note introduces students to the essential elements of convincing empirical research using regression. Students who read this note will be prepared to perform an unstructured research project. The note presents ten essential steps in research, starting with model development and ending with presentation of results. Coverage is given to important subjects such as identification and model robustness.
Students will learn the following: -How to organize and implement an unstructured empirical research project -The importance of identification and ways to think about causality -The distinction between statistical significance and economic importance -Evaluating a statistical model based on the robustness of the results
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