Econometrics is the application of mathematics, statistical methods, and more recently, computer science to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference. An influential introductory economics textbook describes Econometrics as allowing economists to sift through mountains of data to extract simple relationships.
Econometrics is the unification of economics, mathematics, and statistics. This unification produces more than the sum of its parts. Econometrics adds empirical content to economic theory allowing theories to be tested and used for forecasting and policy evaluation
Econometric Analysis in statistics consists of Central Limit Theorem, Langrage Multiplier, Mean, Median, Mode analysis, etc. Get in touch with our Statistics tutors. Our Online Statistics Tutors and Statistics Experts will provide detailed solutions for all your Econometric Analysis related needs in statistics. Our Statistics homework/assignment help section has been designed to guide you through all your homework, assignment, and term paper and project paper problems.
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