Increasing the Efficiency of Decision-Making Process with the Help of Econometrics

Representing a combination of mathematical methods, economic theory and statistical techniques, econometrics has an important role in fields like management, marketing, accountancy, finance, etc. The large number of practicability fields represents the reason for which, in the last decades, econometrics has known a spectacular development, moving from studying macroeconomic phenomena to microeconomic phenomena. This paper aims to present an econometric analysis of the decision to replace a random wear terminal accomplished with the aim of decision substantiation regarding the IT field. within a company.