Question

Explain the
relationship between Economics and statistics​

Answer 1

Answer:

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Economics is the study of various factors that affect both nations and individuals. Statistics and econometrics are linked as researchers need information on the strength between relationships and the correlations between gathered data.

Answer 2

Answer:

Statistics forms the basis for analysing the performance of an economy and comparing it with other economies. ... It helps in analysing the relationship between different economic variables. 4. Statistics forms the base for economic theories and models.

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