Search results
Results from the WOW.Com Content Network
For example, values of the Gibbs energy obtained from high-temperature equilibrium emf methods must be identical to those calculated from calorimetric measurements of the enthalpy and entropy values. The database provider must use recognized data analysis procedures to resolve differences between data obtained by different types of experiments.
One example is the liquid–vapor critical point, the end point of the pressure–temperature curve that designates conditions under which a liquid and its vapor can coexist. At higher temperatures, the gas comes into a supercritical phase, and so cannot be liquefied by pressure alone.
Data are commonly used in scientific research, economics, and virtually every other form of human organizational activity. Examples of data sets include price indices (such as the consumer price index), unemployment rates, literacy rates, and census data. In this context, data represent the raw facts and figures from which useful information ...
An example of an equation of state correlates densities of gases and liquids to temperatures and pressures, known as the ideal gas law, which is roughly accurate for weakly polar gases at low pressures and moderate temperatures. This equation becomes increasingly inaccurate at higher pressures and lower temperatures, and fails to predict ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference."
Economic data are data describing an actual economy, past or present. These are typically found in time-series form, that is, covering more than one time period (say the monthly unemployment rate for the last five years) or in cross-sectional data in one time period (say for consumption and income levels for sample households).
In economics, a sunspot equilibrium is an economic equilibrium where the market outcome or allocation of resources varies in a way unrelated to economic fundamentals. In other words, the outcome depends on an "extrinsic" random variable , meaning a random influence that matters only because people think it matters.