Question

What do you mean by statistics write the importance of statistics in economics?

Answer 1

Answer:

ପରିସଂଖ୍ୟାନ କୌଣସି ତଥ୍ୟାବଳୀ କୁ ସହଜରେ ଉପସ୍ଥାପନା କରିଥାଏ

Answer 2

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What do you mean by statistics?

Write the importance of statistics in economics?

                                                           

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What is Statistics?

                                             

The term Statistics is used either as singular or plural. A singular noun the term statistics denotes the various methods adopted for the collection, presentation, analysis and interpretation of quantitative information. As a plural noun statistics refers to quantitative information or data, eg; the statistics of births, deaths, imports , exports, etc.

                             

Importance of statistics in economics

                         

• Statistics is an inevitable tool in the hands of economists.
• It helps to understand various economic problems.
• Complex numerical data in economics are simplified through statistical methods.
• Presentation of facts in definite and precise form.
• Imports and exports of a country may be compared with each other or with those of another country.
• Knowledge of trends and tendencies helps in making future plans.
• To find relationship between economic variables.
• In development planning, use of statistical methods of analysis and decision making has become indispensable.

               

                 

                 

               

           

Happy Learning Dear!❤