Briefly explain how statistics helps to study economics
Asked by admin @ in Business Studies viewed by 398 People
Briefly explain how statistics helps to study economics.
Asked by admin @ in Business Studies viewed by 398 People
Briefly explain how statistics helps to study economics.
Answered by admin @
Statistics helps an economist to present economic facts or data in a precise and definite form. Statistics helps to condense or reduce the bulk of data. Eg: finding the average income of the population. Statistics facilitates forecasting and predicting of future.
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