What is econometrics?
A) a bias in which people overemphasize small risks while ignoring large risks
B) the use of statistical and analytical techniques to test economic theory
C) the use of mathematical theory to speculate on cause and effect
D) the branch of economics that studies psychological biases

Question

Quizplus · Accepted Answer

Econometrics involves the use of statistical methods to analyze economic data and test hypotheses or theories. It applies mathematical and statistical techniques to understand economic relationships, forecast economic trends, and develop economic models.

What Is Econometrics