Help economists make forecasts, which are also called predictions.
Asked by maham237 @ in Social Studies viewed by 325 People
Answered by maham237 @
Data patterns and econometrics help economists make forecasts, which are also called predictions.
Repeated patterns are inherent to the economic science and data storage allows to keep and analyze them. In order to do so, the statistical and mathematical models defined by the econometric science are the instruments that will make posible to recognize those pattenrs and to infer predictions and causal relationships.
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