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5 Cards in this Set
- Front
- Back
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Identification Problem
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Difficulty of estimating an economic relation in the presence of simultaneous relations
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Consumer interview
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questioning customers to estimate demand relations
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regression analysis
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statistical technique for obtaining the line that best fits the data points according to an objective statistical criterion
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deterministic relation
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association between variables that is known with certainty
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statistical relation
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association between variables wherein the average of one is realted to another but the value of one based on the value of the other is impossible to predict with certainty
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