Question

importance of statistics in economics​

Answer 1

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Statistics for economics concerns itself with the collection, processing, and analysis of specific economic data. It helps us understand and analyze economic theories and denote correlations between variables such as demand, supply, price, output etc.

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Answer 2

Answer:

Statistics for economics concerns itself with the collection, processing, and analysis of specific economic data. It helps us understand and analyze economic theories and denote correlations between variables such as demand, supply, price, output etc.