Econometrics
Pronunciation: /ɪˌkɑːnəˈmɛtrɪk/
Econometrics (adj)
- Using statistics and math to study economic data and test ideas about how economies work.
- Related to building and checking mathematical models that explain economic relationships using real-world numbers.
Examples
- Econometric methods use statistics and math to study economic data.
- She uses econometric analysis to test whether prices affect demand.
Econometrics (adjective)
Examples
- Econometric methods help explain how data-based economics works in practice.
- The report uses econometric analysis to support data-based economics claims.