Economy, asked by nikhilsingh8826, 5 months ago

explain the need of statistics in the field of business and economy . the answer must be in 60words

Answers

Answered by mansimadhav132006

2

Answer:

In economics research, statistical methods are used to collect and analyze the data and test hypotheses. The relationship between supply and demand is studied by statistical methods; imports and exports, inflation rates, and per capita income are problems which require a good knowledge of statistics.

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