Stepwise Regression Plotting System for Non-Negative Economic Data
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Solution Overview
Problem
Current economic analysis systems lack the ability to effectively plot and manipulate data in a coordinate system without negative spaces, hindering the identification of optimal economic combinations, particularly in industries where cost, price, and quantity variables are always positive.
Innovation Solution
A stepwise regression and plotting system that generates 4-dimensional plots along non-negative axes, allowing users to filter, highlight, and select variables, displaying rank-ordered correlations and equations, and performing demand analysis to determine optimal economic equations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional economic analysis systems are used, then data can be processed, but data cannot be effectively plotted and manipulated in a coordinate system without negative spaces
Solution Approach 1:
The patent transforms traditional 2D economic data plotting into a 4D coordinate system with non-negative axes. This dimensional expansion allows economic variables (cost, price, quantity, value) to be plotted without negative spaces, creating a specialized visualization space that matches the inherent constraints of economic data while enabling new manipulation capabilities.
2Measurement precision
If variables with positive values only are used, then economic accuracy is improved, but plotting flexibility is reduced due to lack of negative spaces
Solution Approach 1:
The patent changes the parameter space of the coordinate system from the traditional Cartesian system (with negative and positive quadrants) to a 4D system with non-negative axes only. This parameter transformation aligns the coordinate system with the inherent constraints of economic variables (cost, price, quantity, value) which cannot be negative, thereby improving measurement precision while maintaining plotting flexibility through the additional dimensions.
3Loss of information
If 4-dimensional plots are generated, then optimal economic combinations can be identified, but system complexity increases
Solution Approach 1:
The patent introduces a 4D coordinate system where each dimension represents an economic variable (cost, price, quantity, value). By plotting data in this elevated space, the system can visualize relationships and identify optimal combinations that would be invisible in traditional 2D plots. The additional dimensions provide new perspectives for analyzing economic relationships without requiring complex mathematical transformations.
Solution Approach 2:
The patent introduces an intermediary computational layer that handles the complexity of 4D plotting and variable manipulation. This intermediary system processes user selections, performs rank-ordered correlation analyses, and generates appropriate visualizations, thereby shielding users from the underlying complexity while still providing access to the full power of 4D economic analysis.
Data Source
AI summary
There is disclosed apparatuses and methods for performing stepwise regression analysis on industry data. These apparatuses include a processor and memory which comprise circuits and software for performing the instructions on a storage medium comprising accessing a set of data specific to a business environment wherein the set of data comprises a set of values for a set of variables that describe a business environment; receiving a selection of a first variable from the set of variables; generating a correlation table, wherein the correlation table is generated by determining a correlation between the first variable and each remaining variable in the set of variables; and rank-ordering each of the remaining variables in the set of variables based on the correlation; and displaying the correlation table.