Linear regression belongs to the econometric methods of empirical research, which are applied in almost all sciences. Linear regression is set of econometric methods of estimating statistical causality between two or more factors (variables of interest).
Tag: Econometrics
Econometrics is a branch of economics that uses statistical methods, mathematics, and computer science to analyze economic data. It is concerned with understanding the relationships between economic variables, such as prices, wages, and employment, and using this knowledge to make predictions or inform policy decisions. Econometricians use sophisticated mathematical models to estimate the effects of different factors on economic outcomes and to test economic theories against real-world data. The field is interdisciplinary, drawing on insights from statistics, mathematics, economics, and computer science to comprehensively understand the economy.
