Question

Please write in points+ its 4 mks Question.
1) What is the importance of Statistics?
2) What are the limitations of Statistics?
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Answer 1

This is of Question 2. of Answer

Answer:

And this is of Question 1. of Answer

Ans :- 1. Forecasting: Statistical data are useful to forecast the changes in the factors which influence other factors.

2. This information enables economists to formulate polices and suggestions to overcome the problem.

3. Formulation of policies: Statistical data is essential for formulating policies of economic development.

4. Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results.

Answer 2

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