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Topic: Bias in predictions from log-log regression
Replies: 1   Last Post: Jun 21, 1996 10:07 AM

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Mark Kimberley

Posts: 2
Registered: 12/18/04
Bias in predictions from log-log regression
Posted: Jun 21, 1996 5:37 AM
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I have regression data in which both x and y variables require a log
transformation, ie, the appropriate equation is ln(y) = a + b ln(x) + e
Predictions of y from this equation will be biased because of the
transformation. In fact it will provide predictions of the geometric mean of y
for a given x. My inclination is to add half the mean square error to the
intercept to correct for the bias. Is this a valid procedure? Is there any
other approach that will give unbiased predictions in this situation?

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