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Many aspects of Economics depend on independent decisions made by a very large number of participants. These actions can be estimated by statistics, and statistical models fitted to economic processes.
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Which of these should be used as a way to make an educated guess about the relationship between?
inferential statistics
What is the difference between statistics and parameter?
What is the difference between statistics and parameter
What is the relationship between statistics and probability?
Probability is used to answer questions in the category of Statistics. Probability is a basic statistic that gives numeric value to the questions; Will a specific event occur? or How certain are you that it will occur. Probability of rolling a 3 on a 6-sided die is 1/6.
What is regression analysis?
In statistics, regression analysis is a statistical process for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables, when the focus is on the relationship between a dependent variable and one or more independent variables.
Difference between symmetrical and assymetrical data of statistics?
Asymmetric is the opposite of symmetric
