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What do you mean by Econometrics?
Econometrics is a particular branch of economics that applies mathematics, computer science, and statistics to economic data. It is utilized to assess and quantify economic concepts to resolve economical issues. The primary goal of econometrics is to transform qualitative testimonies into quantitative testimonies. Econometric processes can be used in various fields of economics like Labour Economics, Macroeconomics, and Microeconomics. It helps to assess the business data.
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