Time Series and Regression Models

This chapter solely focuses on time series and regression models as fundamental tools in the field of statistical analysis and forecasting within the hospitality and tourism research domain. It provides a comprehensive overview of these models, highlighting their applications, key components, and methodologies. Regression models focus on understanding the relationship between a dependent variable and one or more independent variables. They are widely used for prediction and inference in hospitality and tourism fields, including economics, finance, marketing, guest services, technology, and customer behavior. In conclusion, time series and regression models are indispensable tools for statistical analysis, offering powerful methods for forecasting and understanding data relationships. Their applications span a wide range of domains, making them essential for data-driven decision-making.