Econometrics can be defined as the study in which the tools of economic theory, statistical inference and mathematics are systematically applied, using observed data, to the analysis of economic laws. ... Economic theories are written in mathematical form and are then analyzed using statistical methods.
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Econometrics can be defined as the study in which the tools of economic theory, statistical inference and mathematics are systematically applied, using observed data, to the analysis of economic laws. ... Economic theories are written in mathematical form and are then analyzed using statistical methods.