The Prediction of Growth of the GDP of North Macedonia for 2024 using Logistic and Linear Regression Model
Leotrim Ramadani, Neritan Turkeshi, Shpetim Rexhepi
Asian Journal of Economics, Business and Accounting · pp. 221–228 · Published 16 Feb 2024
10.9734/ajeba/2024/v24i31255Abstract
The purpose of this research is to get to know the statistical calculations that are used even in other fields except Mathematics, like economics, Finance, Informatics, Architecture, etc. In this research, we have used statistical calculations like those of Linear Regression and Logistic Regression to calculate and predict the GDP of a specific country, in our case, North Macedonia. Here we have used the chance to use these two statistical models to present and visualize the already made predictions. The data are derived from the World Organization which deals with statistical data of all the countries of the world. While using these two statistical models we even explained which are the pros and cons of each other, when we should use the first one and when the second one, in what use-cases we can use these two and what are the differences between them.
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