Explain the importance of statistics economy
Answers
Answered by
4
Answer:
The importance of statistics in economics starts with economics research methods. These are used to collect and analyze data for factors, such as per capita income and inflation rate. Statistics play a major role in this field and they feed into each since both are largely number- and fact-based.
Answered by
3
Explanation:
Statistics are important because today we live in the information world and much of this information's are determined mathematically by Statistics Help. ... 2) Statistics mostly used by the researcher. They use their statistical skills to collect the relevant data. Otherwise, it results in a loss of money, time and data
Similar questions