What does econometric mean?
Definitions for econometric
econo·met·ric
This dictionary definitions page includes all the possible meanings, example usage and translations of the word econometric.
Princeton's WordNet
econometricadjective
of or relating to econometrics
"econometric theories"
Wiktionary
econometricadjective
Combining economics and mathematics.
an econometric study
Wikipedia
econometric
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. 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 introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today.A basic tool for econometrics is the multiple linear regression model. Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Econometricians try to find estimators that have desirable statistical properties including unbiasedness, efficiency, and consistency. Applied econometrics uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analysing economic history, and forecasting.
ChatGPT
econometric
Econometrics is the application of statistical and mathematical methods to the study of economic and financial data. It involves testing and estimating economic theories by using real-world data. This quantitative approach helps economists understand and predict economic trends, measure the impact of specific changes on a particular economy, and develop economic policies. It is a branch of economics that combines theory, data, and statistical methods to conduct quantitative analysis.
Numerology
Chaldean Numerology
The numerical value of econometric in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of econometric in Pythagorean Numerology is: 3
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"econometric." Definitions.net. STANDS4 LLC, 2024. Web. 19 Apr. 2024. <https://www.definitions.net/definition/econometric>.
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