Some individuals have an inherent distrust of quantitative analysis because they

Question

Some individuals have an inherent distrust of quantitative analysis because they think that statistics can be manipulated to provide a desired interpretation. As we will see, much of this course on regression analysis pertains to knowing about an error term in the regression equation. What would those individuals think if they knew that econometrics is based on an error term?

In the discussion this week, I would like for you to discuss your experience with quantitative analysis. Are you one of those who have a distrust of quantitative analysis? For example, the economists in the Obama administration suggested that the stimulus package that they recommended in early 2008 would keep unemployment under eight percent. Even though they did not show us their analysis, we all know that it was flawed because unemployment reached ten percent in 2010. Were their econometric models improperly specified? Were their assumptions about the economy wrong? Is Keynesian macroeconomic theory wrong?

Was there bias in their theory about how the stimulus would work? In the discussion this week, I would like for you to address some of the questions that I raised in the introduction to this discussion. You do not have to focus only on the economic policy of the Obama administration. This exercise is intended to provide general background information to launch us into this course. You are to use your experience as the sources of your discussion participation.

Explanation / Answer

yes i wont trust quntitative analysis it is a mere number which changes according to place,population,etc

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