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Commonly Encountered Problem in Econometrics

Online Econometrics Resources / Team LEF

1. Multicollinearity Multi-collinearity is a type of disturbance in data, where the independent variables are related to each other making the statistical inference redundant. 2. Heteroscedasticity Heteroscedasticity or Heteroskedasticity occurs when the size of the error term varies across the values of the independent variable. 3. Auto correlation It measures the relationship between a variables’ […]

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5 Steps in Learning Econometrics

Online Econometrics Resources / Team LEF

Image Credit – Pxhere.com Learning Econometrics involves the following steps. Whatever the book you use for studying Econometrics, you will eventually learn the steps to master this subject goes as below: 1. Study the Problem: You come across a problem, indulge in deep thoughts about its variables, causes etc. and make note of it. 2.

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3 Basic Mathematical Tools For Strong Econometrics Foundation

Online Econometrics Resources / Team LEF

Everyone is aware of the importance of a strong, stable foundation for high rise building. Basic mathematical tools are such skills which will help you interpret the results,and your concepts. We enlist the 4 such basic mathematical tools for your strong foundation for Econometrics. 1. Proportion and Percentage 2. Summation Operators 3. Descriptive Statistics 4.

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