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Estimating formulas that have both dependent and independent variables are called: (a) Estametric formulas (b) Parametric...

Estimating formulas that have both dependent and independent variables are
called:
(a) Estametric formulas
(b) Parametric formulas
(c) Price index formulas
(d) Price curve formulas
(e) None of the above

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Answer #1

Estimating formulas that have both dependent and independent variables are called parametric formulas.

Therefore correct answer is option (b) parametric formulas

Parametric formulas have both independent variable called a parameter and dependent variables which are a function of parameter and they are not dependent on any other variable. Therefore could be more than one parameter.

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