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TUTORIAL: Advanced Features
Do I need the Advanced Features?
You should check out the Advanced Features:
How to turn on the Advanced Features
When an ordinary user comes to the Economagic.com site, the Advanced Features are turned off by default.
To turn the Advanced Features on, hit the Advanced Features menu item on the header or footer menus.
The Advanced Features option will stay in effect as long as you use the same IP address. If you have a dynamically assigned IP (for example, because you are using an online service like AOL), then you must switch on this option each session. If you have a static IP address, then the Advanced Features option will stay in effect until you switch it off.
How to Save series to your Personal Workspace
First make sure that the Advanced Options are turned on -- see above. You will know they are when you see the following option menu on the menu header.
|Advanced Menu: | View Workspace | XY Plot | Run Regression | Delete Series|
First select a series from a source browsing or search results page. Once a series has been selected, in the Advanced Menu for the series, click on
|Advanced Menu: Save Series to Personal Workspace|
In this way you can save as many series as you wish to your Personal Workspace.
How to Transform series
Once you have saved a few series to your personal workspace, view your personal workspace by clicking on the View Workspace option of the Advanced Menu. This is the same page that appears once you save a series.
First of all make sure that both series are in the same frequency (that is, both monthly, or quarterly, or annually). If they are not, lower the frequency of one series to match the other. To change the frequency of a series (note you can only do one at a time), then choose one series, choose the appropriate method (quarterly from monthly, etc), and hit the Transform this Series option.
Now you are ready to perform addition, subtract, multiplication, or division on two series. From with the personal workspace, pick your first series, and then click on the Transform this Series option, and follow the instructions.
How to run a Regression
It is assumed that if you want to run a regression you know enough to understand the input and output. If you are not sure, please consult a statistics or econometrics textbook.
Once you have created (saved, and perhaps transformed) the series you want in your regression, begin with the regression pages by clicking the Run Regression option of the Advanced Menu.
The page that next appears requires your choice of a Y (dependent variable, or variable to be explained), and at least one X (independent, or explanatory variables).
Note all series chosen for the regression must be in the same frequency (monthly, quarterly, annually). If there are not, go back to change the frequency. See above.
Once the Y and X variables have been chosen, click on the Run Regression on Selected Series button.
The next page allows you to check your choice of Y and X variables, and choose
If you ever get confused by such badly labelled series in your personal workspace, you can always delete them and rerun the regressions.
How to make an XY Plot
To make an XY plot (or scatter diagram), you must have saved at least two series to your personal workspace, as explained above. Remember to transform your series before you hit the XY Plot menu item. Follow the instructions, and if you change your mind, go back to the previous screens to alter the inputs.
Along with an XY plot, you will get the regression line, and the regression results.
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