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Econometrics can be a department of economics that applies statistical and mathematical methods and products to analyze economic facts. It employs observations and theories to carry out a quantitative Evaluation of an financial phenomenon.

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Info that is within an ordinal scale is look at this site usually rescaled by converting the info into a ratio or interval scale. Data that may be in a nominal or ordinal scale might be scaled by developing new dummy variables.

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SPSS,  accessible for both Windows and Mac functioning units, presents users with a wide variety of statistical assessments, along with info management and data Investigation tools.