Discuss the utility of Statistics to the state, the economist, the industrialist and the social worker.
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Statistics :
(1) Statistics helps in providing a better understanding and accurate description of nature's phenomena.
(2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study.
(3) Statistics helps in collecting appropriate quantitative data.
Economists study the ways a society uses scarce resources such as land, labor, raw materials, and machinery to produce goods and services. ...
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