"Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics and to forecast future trends from historical data. It subjects real-world data to statistical trials and then compares and contrasts the results against the theory or theories being tested. Econometrics is the use of statistical methods using quantitative data to develop theories or test existing hypotheses in economics or finance. Econometrics relies on techniques such as regression models and null hypothesis testing. Econometrics can also be used to try to forecast future economic or financial trends."

Varchas Manohar

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