ECONOMETRICS literally means economic measurement. It is the branch of economics that applies statistical methods to the empirical study of economic theories and relationships. It is a combination of mathematical economics, statistics, economic statistics and economic theory.
CERTIFIED PAYROLL REPORT means the record that a contractor or subcontractor engaged on a public work is required to submit to an awarding government body with a statement of compliance as required pursuant to regulations for each month in which the contractor or subcontractor employs one or more workmen in connection with the public work.
DISCOUNT ALLOWED, normally, is a reduction of the invoice amount for early payment of the invoice value.
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