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What is Understanding Econometrics Basics about?

This document introduces the concepts of econometrics. It defines econometrics as the statistical analysis of economic data. Econometrics is used to answer quantitative questions about relationships between economic variables and to measure the uncertainty of the answers. The three main uses of econometrics are descriptive analysis, prediction, and causal inference. Ordinary least squares regression is presented as the most common technique to estimate relationships between variables and measure goodness of

Author
romik82
Language
EN

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