Uses and importance of statistics in economic s
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Statistics is very important for methodology of economic research. It helps in analyzing the factual data and test hypotheses. It indicates information in terms of numerical data for e.g. employment statistics, exports statistics, primary education statistics etc.
Statistics helps in giving the economic answer in a precise and definite form. Economics widely consists of supply and demand relationship which is studied through statistical methods.
Statistical methods are used to prepare the National income accounts as they are multipurpose indicators for economists.
Statistics helps in giving the economic answer in a precise and definite form. Economics widely consists of supply and demand relationship which is studied through statistical methods.
Statistical methods are used to prepare the National income accounts as they are multipurpose indicators for economists.
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