explain tye need of statistics in the field of business and economics? max 60 words
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- ʀᴇsᴇᴀʀᴄʜ, sᴛᴀᴛɪsᴛɪᴄᴀʟ ᴍᴇᴛʜᴏᴅs ᴀʀᴇ ᴜsᴇᴅ ᴛᴏ ᴄᴏʟʟᴇᴄᴛ ᴀɴᴅ ᴀɴᴀʟʏᴢᴇ ᴛʜᴇ ᴅᴀᴛᴀ ᴀɴᴅ ᴛᴇsᴛ ʜʏᴘᴏᴛʜᴇsᴇs. ᴛʜᴇ ʀᴇʟᴀᴛɪᴏɴsʜɪᴘ ʙᴇᴛᴡᴇᴇɴ sᴜᴘᴘʟʏ ᴀɴᴅ ᴅᴇᴍᴀɴᴅ ɪs sᴛᴜᴅɪᴇᴅ ʙʏ sᴛᴀᴛɪsᴛɪᴄᴀʟ ᴍᴇᴛʜᴏᴅs; ɪᴍᴘᴏʀᴛs ᴀɴᴅ ᴇxᴘᴏʀᴛs, ɪɴғʟᴀᴛɪᴏɴ ʀᴀᴛᴇs, ᴀɴᴅ ᴘᴇʀ ᴄᴀᴘɪᴛᴀ ɪɴᴄᴏᴍᴇ ᴀʀᴇ ᴘʀᴏʙʟᴇᴍs ᴡʜɪᴄʜ ʀᴇϙᴜɪʀᴇ ᴀ ɢᴏᴏᴅ ᴋɴᴏᴡʟᴇᴅɢᴇ ᴏғ sᴛᴀᴛɪsᴛɪᴄs.
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