"statistics is an indispensable tool for an economist" do you agree ? give two reasons
Answers
Answer:
Explanation:
Statistics is an indispensable tool for an economist that helps him to understand an economic problem. It enables an economist to present economic facts in a precise and definite form that helps in proper comprehension of what is stated. It is important as it helps in condensing mass data into a few numerical measures. Statistics is also used in finding relationships between different economic factors. Another important aspect of statistics is that it plays a vital role in decision making.
Answer:
"Statistics is an indispensable tool for an economist, Yes i agree.
Explanation:
The approach taken to translate a foreign operation's financial statements relies on how it is financed and run in respect to the reporting firm. Foreign operations are categorised as either "integral foreign operations" or "non-integral foreign operations" for this purpose.
An economist's vital tool for understanding an economic issue is statistics. It lets an economist to communicate economic data in a clear, concise manner that aids in the appropriate understanding of what is spoken. It is crucial since it aids in reducing a large amount of data to a few numerical measurements.
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