EES 400: FUNDAMENTALS OF ECONOMETRICS I
| Institution | KENYATTA UNIVERSITY |
| Course | ECONOMETRICS AND STA... |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Codred Agencies |
| File Type | |
| Pages | 81 Pages |
| File Size | 1.82 MB |
| Views | 7204 |
| Downloads | 3 |
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Description
Econometrics is the social science that applies the tools of economic theory, mathematics and statistical inference to analyze economic phenomena and to estimate causal relationships among variables i.e. how a change in one variable affects the other. Thus, econometrics combines economic theory, mathematics and statistics.
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For all engineering works it is required to know beforehand the probable cost of construction known as estimated cost. If the estimated cost is greater than the money available then attempts are made to reduce the cost by reducing the work or by changing the specifications. In preparing the estimate, the quantities of different items are calculated by simple maturation method and from these quantities the cost
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Estimating and Costing I
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