what is importance of statistics in economics?
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In economics research,statisticalmethods are used to collect and analyze the data and test hypotheses. The relationship between supply and demand is studied by statisticalmethods; imports and exports, inflation rates, and per capita income are problems which require a good knowledge of statistics.
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In economical research, statisticalmethod are used to collect and analyze the data and test hypothesis. .The relationship between supply and demand is studied by statisticalmethods ; import and export , inflation rate , and
per Capita income are problems which requires a good knowledge of statistics
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