2. Why Statistics is important in economics? Explain any four points)
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Answer:
Economic statistics is a topic that concerns the collection,processing,Compilation,and analysis of data...
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Answer:
The consequence of statistics in economics commences with finance analysis methods. These are utilized to assemble and interpret data for constituents, such as per capita wages and expansion time. Statistics play a significant role in this domain and they support into specific since both are the comprehensive estimate and fact-based.
The range of statistics is the ability to receive from data. Statistical knowledge encourages you to practice the conventional methods to accumulate the data, manipulate the correct inquiries, and completely perform the outcomes.
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