👉 In statistics, a variable is a quantity measured or studied. Variables can be numerical (such as temperature, weight) or categorical (such as gender). In econometrics, variables are often referred to as "covariates" because they represent potential influences that may affect the outcome of an economic analysis.
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What is the definition of Covariable? 🙋
👉 A variable in statistics refers to a measurable quantity that can change over time. It is often used as an index of something, such as population growth or economic performance. Variables are typically numerical and can be measured by various methods like surveys, experiments, or financial data. They are essential for statistical analysis and allow researchers to make predictions about the behavior of a variable.
