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Econometrics vs. Statistics — What's the Difference?

Difference Between Econometrics and Statistics

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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.
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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.
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Statistics

The branch of mathematics which studies methods for the calculation of probabilities.

Statistics

A branch of applied mathematics concerned with the collection and interpretation of quantitative data and the use of probability theory to estimate population parameters

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