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Econometrics is the applying of mathematics to economic information to be able to arrive at financial conclusions. For example, an economist might need to resolve whether to build a bridge or not, based on an economic evaluation. Then, a physicist may have to use models to determine how lengthy the bridge would take to finish and whether or not or not the price of constructing it will be justified. Similarly, chemists might need to make calculations about how long it might take to synthesize new compounds. Many scientists, economists, and politicians use fashions to help predict individuals’s opinions and behavior.
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