• “STATISTICS ENABLES AN ECONOMICST TO PRESENT ECONOMIC FACTS IN A PRECISE AND DEFINATE FORM”EXPLAIN WITH AN EXAMPLE.
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1. "Statistics enables an economist to present economic facts in a precise and definite . A number of economic problems can easily be understood by the useof statistics. It helps in formulation of economic policies e.g., basiceconomic activities like production, consumption etc. use statistics. Theimportance of statistics in various parts of economics as follows:a) Statistics in consumption : To obtain the knowledge of how differentgroups of people spend their income from statistics relating toconsumption. the data of consumption are useful and helpful inplanning their budget and improve their standard of living.b) Statistics in production : The comparative study of the productionprocess in done with the help of statistics. MAY BE THIS WILL HELP YOU