| dc.description |
There are a number of alternative techniques for developing regional industry employment projections. Selecting the most appropriate technique involves trade-offs among cost, data requirements, comprehensibility, versatility, theoretical validity, reliability, and accuracy. Single-equation regression models represent a "best-buy" alternative for many types of economic development agencies and their information needs. The adjustment of projections that emerge from a projection model based upon analysts' informal knowledge of the behavior and performance of the regional economy, is a critical step in assuring accurate projections, no matter what type of model is chosen |
