Question

Tell your friend of the science stream, why you learn statistics along with Economics​

Answer 1

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.

Meaning and Scope of Statistics

Statistics is a mathematical science pertaining to the collection, analysis, interpretation or explanation and presentation of data. It provides tools for predicting and forecasting the economic activities. It is useful for an academician, government, business etc.