Understanding the Concept of Econometrics?
Econometrics is the branch of economics that is concerned with the use of fine
styles( especially statistics) in describingprofitable systems.
Statistical methods are used in econometrics data analysis to test or create
lucrative hypotheses. Using tools like frequency distributions, probability,
and probability distributions, statistical conclusion, correlation analysis,
simple and multiple retrogression analysis, contemporaneous equations models,
and time series styles, these styles compute statistical consequences to quantify
and analyze profitable propositions.
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