Statistical models including parametric and nonparametric components are called econometric models by economists. It not only overcomes the fitting error of pure parametric model, but also overcomes the estimation error of pure nonparametric model.

What is authorization control?

Authorization control means that all business operations of an enterprise must be carried out by approved or authorized personnel or departments. The implementation of authorization control can ensure that everyone is in charge of everything, someone is responsible for everything, there are standard work and inspections, and all economic and business activities are effectively controlled.