My question from all of you is about the number of techniques in the field of economics to test the relationship between the different variables. If anyone knows the answer, then, please reply.
Thanks in advance.
You may search the keyword I am attaching below:
Testing relationship between two variables.pdf lecture.3.regression.all.pdf
Have you decided what kind of relationship you want to test? If not, then, your first step should be to decide that.
1. If the variables used in your study are qualitative, then, prefer using Chi-square. And if, the variables are quantitative, then, use the correlation coefficient.
2. If the test is for the dependence relationship between the variables, then, you can use
A. Time series data- granger causality
B. Time series/cross-sectional data-Structural equation modelling
Hi, I know many techniques which are used in the field of economics to test the relationship between the different variables. Such as, t-test, z-test, chi-square test, Pearson product-moment correlation coefficient, Spearman’s rank correlation coefficient, least squares regression, and many more.