Is it okay if I use trend variable for my time series linear regression?
tslm.LE <- tslm(Life_expectancy~Age+Gender+Race+trend, data=ts_df)
summary(tslm.LE)
If I do not use trend variable then, I get the same output for both linear model regression and time series linear regression.
Call:
tslm(formula = Life_expectancy ~ Age + Gender + Race + trend,
data = ts_df)
Residuals:
Min 1Q Median 3Q Max
-41.186 -6.064 0.394 6.561 15.729
Coefficients:
Estimate Std. Error t value Pr(>|t|)
(Intercept) -13.962344 2.802002 -4.983 7.78e-07 ***
Age 25.901145 0.361652 71.619 < 2e-16 ***
Gender -4.440598 0.588072 -7.551 1.25e-13 ***
Race 0.816503 1.081518 0.755 0.451
trend 0.001875 0.004051 0.463 0.644
---
Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1
Residual standard error: 8.022 on 751 degrees of freedom
Multiple R-squared: 0.8739, Adjusted R-squared: 0.8732
F-statistic: 1301 on 4 and 751 DF, p-value: < 2.2e-16
What conclusion can be drawn from this? Because the trend variable is insignificant here. My purpose is to determine the model that is suitable for time series data by using linear model and time series linear model.