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No discipline can be completely independent of others; an ideal example to illustrate this premise is econometrics. This sub-discipline under economics seeks to apply theoretical dimension of statistics and mathematics for testing hypothesis and determining trends of the future. Our experts at myhomeworkhelp.com understand all dimensions of this topic that need to be covered in order to create a comprehensive answer.
Econometrics assignment answers can be an easy solution to tackling this discipline but first its crux has to be studied. For appropriate analysis learners must begin with its concepts and move on to methodology. At first problems might occur causing late submissions but taking expert guidance can lead to quick solutions.
Concepts of econometrics
To begin understanding concepts of this sub-discipline its division has to be clarified. Econometrics can be broadly classified into two parts – theoretical and applied. The basic premise is to study economic models and test different assumptions to predict changes in these set-ups. It is applied when a real life situation is taken into account but for students mostly theoretical analysis is predominant.
Econometrics homework answers point out that different techniques and mediums are used for coming up with logical results. Tool such as distribution in frequency or statistics, equations, time series, probability and even regression analysis are put to use. Testing a theoretical hypothesis and real-life hypothesis differs greatly. For example, studying expenditure patterns will differ in reality and theory.
The methodology related to econometrics can be broken down into four simple steps. First, data provided or collected is analyzed and a basic hypothesis is chalked out. Variables of dependent and independent nature are determined. Second, statistical tools, models and outlines are selected through which analysis takes place.
As per experts with Econometrics assignment answers, third step involves inputting all the data into a program. This program basically seeks to break down or calculate using different formulas the results of the hypothesis. Lastly, the assumption which was made in the first step is either validated or rejected. This can be coined an interesting point of the process. After this either the assumption is proved true or a new one emerges.
Making timely submissions
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