Longley's Economic Regression Data

Description

A macroeconomic data set which provides a well-known example for a highly collinear regression.

Usage

longley

Format

A data frame with 7 economical variables, observed yearly from 1947 to 1962 (n=16).

GNP.deflator

GNP implicit price deflator (1954=100)

GNP

Gross National Product.

Unemployed

number of unemployed.

Armed.Forces

number of people in the armed forces.

Population

‘noninstitutionalized’ population \ge 14 years of age.

Year

the year (time).

Employed

number of people employed.

The regression lm(Employed ~ .) is known to be highly collinear.

Source

Longley JW (1967). “An Appraisal of Least Squares Programs for the Electronic Computer from the Point of View of the User.” Journal of the American Statistical Association, 62(319), 819–841. doi:10.1080/01621459.1967.10500896.

References

Becker RA, Chambers JM, Wilks AR (1988). The New S Language. Chapman and Hall/CRC, London. ISBN 053409192X.

Examples

require(stats); require(graphics)
## give the data set in the form it was used in S-PLUS:
longley.x <- data.matrix(longley[, 1:6])
longley.y <- longley[, "Employed"]
pairs(longley, main = "longley data")
summary(fm1 <- lm(Employed ~ ., data = longley))
opar <- par(mfrow = c(2, 2), oma = c(0, 0, 1.1, 0),
            mar = c(4.1, 4.1, 2.1, 1.1))
plot(fm1)
par(opar)