Process Help: Correlation and Regression

Question

Hello!

I have the following data (74 observations) and am trying to identify the process and operators to conduct an exploratory analysis (Correlation and Regression) of the relationship between the president's political party affiliation and this consumer good's Producer Price Index value which is averaged over each year annually. I also have the PPI values quarterly and monthly for the same years which will be assessed using the same process in hopes of a more statically significant value.

- Additionally, how to identify which President had the largest change+/- in PPI over their Term and which year (assuming I'm using monthly values for PPI)?

Years
  (after inauguration)PresidentPartyPPI Observation
  DatePPI_YrAvg
1947Harry
  S. TrumanDemocrat1/1/194722.5
1948Harry
  S. TrumanDemocrat1/1/194825.5
1949Harry
  S. TrumanDemocrat1/1/194927.4
1950Harry
  S. TrumanDemocrat1/1/195028.4
1951Harry
  S. TrumanDemocrat1/1/195133.2
1952Harry
  S. TrumanDemocrat1/1/195232.1
1953Dwight
  D. EisenhowerRepublican1/1/195331.9
1954Dwight
  D. EisenhowerRepublican1/1/195431.9
1955Dwight
  D. EisenhowerRepublican1/1/195533.6
1956Dwight
  D. EisenhowerRepublican1/1/195635.7
1957Dwight
  D. EisenhowerRepublican1/1/195736.5
1958Dwight
  D. EisenhowerRepublican1/1/195836.5
1959Dwight
  D. EisenhowerRepublican1/1/195935.7
1960Dwight
  D. EisenhowerRepublican1/1/196035.5
1961John
  F. KennedyDemocrat1/1/196137.5
1962John
  F. KennedyDemocrat1/1/196237.5
1963Lyndon
  B. JohnsonDemocrat1/1/196337.6
1964Lyndon
  B. JohnsonDemocrat1/1/196437.9
1965Lyndon
  B. JohnsonDemocrat1/1/196539.5
1966Lyndon
  B. JohnsonDemocrat1/1/196639.5
1967Lyndon
  B. JohnsonDemocrat1/1/196739.4
1968Lyndon
  B. JohnsonDemocrat1/1/196840.9
1969Richard
  M. NixonRepublican1/1/196942.2
1970Richard
  M. NixonRepublican1/1/197046.2
1971Richard
  M. NixonRepublican1/1/197147.4
1972Richard
  M. NixonRepublican1/1/197248.4
1973Richard
  M. NixonRepublican1/1/197349.2
1974Gerald
  FordRepublican1/1/197453.2
1975Gerald
  FordRepublican1/1/197559.7
1976Gerald
  FordRepublican1/1/197662.3
1977Jimmy
  CarterDemocrat1/1/197767.5
1978Jimmy
  CarterDemocrat1/1/197872.8
1979Jimmy
  CarterDemocrat1/1/197980.5
1980Jimmy
  CarterDemocrat1/1/198088.7
1981Ronald
  ReaganRepublican1/1/198196.9
1982Ronald
  ReaganRepublican1/1/1982100.0
1983Ronald
  ReaganRepublican1/1/1983110.0
1984Ronald
  ReaganRepublican1/1/1984115.9
1985Ronald
  ReaganRepublican1/1/1985123.5
1986Ronald
  ReaganRepublican1/1/1986126.3
1987Ronald
  ReaganRepublican1/1/1987125.0
1988Ronald
  ReaganRepublican1/1/1988130.2
1989George
  BushRepublican1/1/1989136.4
1990George
  BushRepublican1/1/1990133.4
1991George
  BushRepublican1/1/1991138.9
1992George
  BushRepublican1/1/1992138.3
1993Bill
  ClintonDemocrat1/1/1993139.5
1994Bill
  ClintonDemocrat1/1/1994140.3
1995Bill
  ClintonDemocrat1/1/1995144.3
1996Bill
  ClintonDemocrat1/1/1996143.1
1997Bill
  ClintonDemocrat1/1/1997142.8
1998Bill
  ClintonDemocrat1/1/1998144.1
1999Bill
  ClintonDemocrat1/1/1999144.2
2000Bill
  ClintonDemocrat1/1/2000144.9
2001George
  W. BushRepublican1/1/2001143.9
2002George
  W. BushRepublican1/1/2002144.3
2003George
  W. BushRepublican1/1/2003145.2
2004George
  W. BushRepublican1/1/2004148.9
2005George
  W. BushRepublican1/1/2005162.5
2006George
  W. BushRepublican1/1/2006171.5
2007George
  W. BushRepublican1/1/2007198.7
2008George
  W. BushRepublican1/1/2008250.3
2009Barack
  ObamaDemocrat1/1/2009248.9
2010Barack
  ObamaDemocrat1/1/2010261.6
2011Barack
  ObamaDemocrat1/1/2011297.9
2012Barack
  ObamaDemocrat1/1/2012304.5
2013Barack
  ObamaDemocrat1/1/2013315.4
2014Barack
  ObamaDemocrat1/1/2014323.4
2015Barack
  ObamaDemocrat1/1/2015338.6
2016Barack
  ObamaDemocrat1/1/2016345.5
2017Donald TrumpRepublican1/1/2017341.6
2018Donald TrumpRepublican1/1/2018358.3
2019Donald TrumpRepublican1/1/2019362.2
2020Donald TrumpRepublican1/1/2020369.9

This is as far as I've got without guidance.

Please be kind, I'm just starting to explore rapidminer in school and I'd really appreciate any help or advice, Thanks! :)

BalazsBaranyRM · Answer

Hi!

I would first calculate the yearly change of PPI. I assume the formula for that would be PPI_YrAvg / previous(PPI_YrAvg) - 1. You can do this in Excel or in RapidMiner with Differentiate or Lag and Generate Attributes. 
Here's an introduction to Generate Attributes: https://academy.rapidminer.com/learn/video/generate-attributes
And two videos for time series calculations: https://academy.rapidminer.com/catalog?query=differentiate

When you have the new column YearlyChange, you can easily use Aggregate to group by party and calculate the average, min and max yearly change.

Regards,
Balázs