Population Regression Function and Sample Regression Function
In the previous post we explained the concept of regression analysis in detail along with its meaning, uses and objectives. Moreover, we also discussed how regression analysis differs from correlation analysis and causation. Further, we differentiate conditional and unconditional mean. To read previous article click Nature of Regression Analysis. In this post we will go […]
Nature of Regression Analysis
In the previous lecture we discuss the types and nature of economic data used in any empirical economic analysis. To read click on Types of Economic Data. We also discuss the sources of obtaining economic data. In this post will discuss about the nature of regression analysis, its objectives, uses in economics. We will also see […]
Understanding Types of Economic Data with Real Examples
Types of Economic Data Data is central to any empirical analysis. An empirical analysis uses data to test a hypothesis or theory or to estimate a relationship. The first step in any empirical analysis is to formulate a research question. Model specification is the next step followed by obtaining data. There are many different kinds […]
Introduction to Econometrics
Introduction Welcome to the fascinating world of econometrics! Studying econometrics bridges the gap between being a student of economics and becoming a practicing economist. It equips you with essential tools for analyzing economic data, empirically testing economic theories, providing numerical estimates of economic relationships, and forecasting future events. In this introductory post, we will delve […]