History, asked by mukhtarahmad03925, 5 months ago

what is the importance of statistics in economics? give any three .

Answers

Answered by surbhisoni9338

2

Answer:

Forecasting: Statistical data are useful to forecast the changes in the factors which influence other factors. This information enables economists to formulate polices and suggestions to overcome the problem. Formulation of policies: Statistical data is essential for formulating policies of economic development.

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Answered by pawankumar1184

0

Answer:

Forecasting: Statistical data are useful to forecast the changes in the factors which influence other factors. This information enables economists to formulate polices and suggestions to overcome the problem. Formulation of policies: Statistical data is essential for formulating policies of economic development.

Explanation:

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