The constants of econometric models are referred to as _____.
A)parameters
B)statistics
C)error terms
D)hypotheses

Question

The constants of econometric models are referred to as _____.​
A)​parameters
B)​statistics
C)​error terms
D)​hypotheses

Quizplus · Accepted Answer

The constants of econometric models are referred to as parameters. This is because they are fixed values that are used to estimate the relationship between the independent and dependent variables in the model. Statistics are the results of calculations performed on the data, error terms are the difference between the actual and predicted values, and hypotheses are statements that the model aims to test.

The Constants of Econometric Models Are Referred to as _____