Econometrics is part of the economic as a science, which deals with the statistical (empirical) modelling of economic theories (hypotheses) in order to explain, confirm or disprove economic theory empirically.
Tag: hypothesis
A hypothesis is an educated guess or assumption about a specific phenomenon or event based on limited evidence or prior knowledge. It is a tentative explanation that can be tested and verified through further research and experimentation. A hypothesis is often used in scientific research as a starting point for making predictions or observations and as a guide for conducting experiments or gathering data. A hypothesis must be testable, falsifiable, and based on empirical evidence to be considered valid.
