Analysis of economic and mathematical modeling of industrial enterprise functioning at multicollinearity based on parameterization

Lokhman, Natalya and Лохман, Наталя Володимирівна and Лохман, Наталья Владимировна and Serebrenikov, Vadim and Серебреников, Вадим Михайлович and Beridze, Tatyana and Берідзе, Тетяна Михайлівна and Беридзе, Татьяна Михайловна and Cherep, А. and Череп, Алла Василівна and Череп, Алла Васильевна and Dashko, I. and Дашко, Ірина Миколаївна and Дашко, Ирина Николаевна (2020) Analysis of economic and mathematical modeling of industrial enterprise functioning at multicollinearity based on parameterization. Науковий вісник Національного гірничого університету (2). pp. 179-184. ISSN 2071-2227

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Abstract

The current state of Ukrainian mining industry is characterized by uncertainty, which is largely related to the economy. In this context, it is important to make a reasonable and timely assessment of the economic difficulties arising in the activities of mining enterprises. At the same time, the rapid development of events leads to the need to apply new approaches based on the use of modern mathematical apparatus with the use of the latest advances in IT technologies. One of the possible and effective approaches to solving emerging matters is the mathematical modeling method. It is clear that such modeling should adequately describe economic phenomena. Given that there is uncertainty in the studied economic phenomena in mathematical modeling, multivariate regression models are used in mathematical modeling, the question arises about the validity of the methods used in their construction. In particular, consideration of multicollinearity is a rather important matter. The construction of a multivariate regression model in the presence of multicollinearity leads to a distortion of the results obtained due to the correlation of the input variables. Consequently, it is important to evaluate the impact of multicollinearity on the simulation result and, if possible, to eliminate it.

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