The statistical analysis of economic phenomena is defined as:
A) standard error.
B) confidence intervals.
C) the t-statistic.
D) econometrics.

Question

Quizplus · Accepted Answer

The statistical analysis of economic phenomena is known as econometrics, which is the application of statistical and mathematical theories to economic data. This allows economists to test hypotheses and make predictions about economic behavior. The other options, standard error, confidence intervals, and t-statistic, are specific statistical measures used within econometrics.

The Statistical Analysis of Economic Phenomena Is Defined As