Relating to the mathematical and statistical methods used to analyze and test economic theories.
From 'econometrics,' combining 'economy' with the Greek '-metron' (measure). The suffix '-ical' converts it to an adjective form meaning 'of or relating to.'
Econometrical analysis sounds boring but it's actually detective work—economists use regression equations and statistical tests to prove or disprove theories about why economies behave the way they do.
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