Hi, can someone please explain to me like I'm 5 what a "TRUE MODEL" is? I still cannot comprehend why we have a true model when we are exactly just estimating things? For example, if I want to find the relationship between wage and education, where is the TRUE MODEL from?
I love watching kids explain as much as they can about challenging subjects in order to develop their own understanding. Nice work! You’ll catch on to more concepts and economic storytelling once you start writing in R and SAS!
Listen People! Data science is the new econometrics. Economics in general is being replaced with maths, statistics, and data science. Econometrics won't get you employed but data science/ big data always will.
Hi! I think you made a mistake or my understanding is wrong. If you still active, please explain it. :) In the ui hat = yi - yi hat, should it be ui hat = yi - yi hat? Your equation will make the yi hat = yi - ui hat, which is not suppose to be this way.
Hi Chris, hope you are doing well! The world needs more of your videos!!! I learned more from your videos that my professor couldn't teach over 4 months. If you can, please upload some more videos :)
What comes to mind is linear of econometrics of finance, on the other hand, an application of statistical methods in economics. What I was touching on was a reverse gravitation method by way of statistical methods, which drew my attention to this but no cigar as to what my basic search was; however this is very interesting.
Globalization provides choices for the inclusion of the have nots but potentially is the velvet glove worn by the iron fist of absolute monopoly corporations that chaperone Plutocratic models in Governments.
