Who would restauranteurs trust with the manager code or swipe card when they are away? Making such decision seems natural for many businessmen and women. However, the restaurant industry possesses a singular fixture that makes such a decision very difficult. The sector shows the highest turnover rate in the nation. That means people come and … Continue reading Who should restauranteurs trust with a manager code or swipe ID card?
One of the most recurrent questions in quantitative research refers to on how to assess and rank the relevance of variables included in multiple regression models. This type of uncertainty arises most of the time when researches prioritize data mining over well-thought theories. Recently, a contact of mine in social media formulated the following question: … Continue reading Implications of “Regression Fishing” over Cogent Modeling.
Ever since Florida surpassed New York as the third most populous state in the nation, journalists started to document the ways in which the South region of the United States began attracting young sun-lovers enthusiasts. Two factors have been identified as drivers of an apparent migration from the north towards the south. On one hand, … Continue reading Why is America’s center of gravity shifting South and West?
The ultimate goal of a policy analyst is to make “policy recommendations”. But, when is it precise to make such bold type of statements without looking inexperienced? The following article looks at the requirements for reliable and sound policy recommendations. The focus here is not on how to write them, but on how to technically … Continue reading How and when to make “policy recommendations”.
Economists like to think that wages are set depending upon two basic factors plus a “catchall” variable. The two basic factors are expected price level and unemployment rate. The “catchall” variable stands for all other overlooked factors affecting wage. The way in which the relationship is established by labor theory is that expected price level … Continue reading Do Workers on Unemployment Insurance make Other Workers’ Income Worst?
If your research project encompasses facts on U.S. Labor Market, here are some useful data sources and metrics that might illuminate insights for your research. Although there might be some discrepancies between what you narrowed as your research question and the data sources showed below, chances are you will find a set of metrics that … Continue reading 31 Data Sources, Surveys and Metrics for Doing Research on U.S. Labor Market.
Steps in traditional statistics proceedings for analysis of data: 1. Formulation of Hypothesis. 2. Description of Mathematical model. 3. Collecting and organizing data. 4. Estimation of the coefficients. 5. Hypothesis testing and confidence interval. 6. Forecasting and prediction. 7. Control and optimization. 1. Hypothesis: write down a statement that “in theory” you think happens in … Continue reading Traditional statistics proceedings for analysis of data: simple linear regression.