... (1984–2006):
ˆ
RRg
t
=− 17. 68 + 2.45EFBSg
t
+ 2 .71 GDPg
t
+ 0 .79 OFBSg
t
(5.48)
(6.35) (3 .76 ) (1.92) (0. 87)
where OFBSg is the annual percentage growth in OFBS,R
2
= 0 .76 , adj.
R
2
= 0 .72 , URSS = 619.46, ... in
particular by means of the tests we discuss in the next chapter and the
evaluation of forecast performance in later chapters. On the basis of the
118 Real Estate Mo...
... 202 Real Estate Modelling and Forecasting
Table 7. 3 Regression models for Frankfurt rents
Model A (equation (7. 3)) Model B (equation (7. 4))
Coefficient t-ratio (p-value) ... of the RESET, heteroscedasticity and autocorrelation tests.
Equally, a small number of large outliers could cause non-normality and
172 Real Estate Modelling and Forecasting
is no relationship ....
... variate can be scaled to have zero mean and unit variance by
subtracting its mean and dividing by its standard deviation.
74 Real Estate Modelling and Forecasting
4.3 Regression versus correlation
All ... line,
y = α + βx (4.1)
Real estate analysis: statistical tools 69
25
20
15
10
5
0
–5
–10
–15
47 931 139 185 231 277 323 369 415 461 5 07 558 599 645 691 73 7 78 3...