  # Econometrics vs. Statistics — What's the Difference? ## Definitions

#### Econometrics➦

Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference".

#### Statistics➦

Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied.

#### Econometrics➦

Application of mathematical and statistical techniques to economics in the study of problems, the analysis of data, and the development and testing of theories and models.

#### Statistics➦

The practice or science of collecting and analysing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample.

#### Econometrics➦

(economics) The branch of economics that applies statistical methods to the empirical study of economic theories and relationships.

#### Statistics➦

(used with a sing. verb) The mathematics of the collection, organization, and interpretation of numerical data, especially the analysis of population characteristics by inference from sampling.

#### Econometrics➦

The application of mathematics and statistics to the study of economic and financial data.

#### Statistics➦

(used with a pl. verb) Numerical data.

#### Econometrics➦

The application of mathematics and statistics to the study of economic and financial data

#### Statistics➦

A discipline, principally within applied mathematics, concerned with the systematic study of the collection, presentation, analysis, and interpretation of data.
Statistics is the only mathematical field required for many social sciences.

#### Statistics➦

The science which has to do with the collection, classification, and analysis of facts of a numerical nature regarding any topic.

#### Statistics➦

Classified facts of a numerical nature regarding any topic.