MODELING WITHIN NATIONAL ECONOMY USING INDUSTRY-ORIENTED INDICATORS: EVIDENCE FROM CZECH REPUBLIC

  • 11Institute of Control and Informatization of Production Processes, Faculty of Mining, Ecology, Process Control and Geotechnologies, Technical University of Kosice, Kosice, SK
  • 22Department of Manufacturing Machinery, Faculty of Mechanical Engineering, Technical University of Kosice, Kosice, SK

Abstract

The presented paper solved the question of national economy modeling with an emphasis on gross domestic product. The modeling was based especially on industry-oriented indicators and applied to the Czech Republic. The multiple linear regression analysis was used as the main research method. The main objective of this paper was to specify the relationship between the dependent variable (gross domestic product) and a set of independent variables (nine chosen indicators) that subsequently enables the value estimation of the dependent variable and prediction of its future values. This represents also the key result of the investigation.

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