One way that economists commonly use statistics is to do “forecasting”, to take what is known about today and to use it to predict what will happen tomorrow. I usually use statistics in ways that don’t involve forecasting in the future, but instead to test for relationships in data from the present. Still, there are times I wish I could forecast the future and know how things will look years from now. For example, I wished I could have such a “crystal ball” the other day.
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