Process Help: Correlation and Regression

TiWebly

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

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