Question

What is the importance of statistics in trade?​

Answer 1

Answer:

He knows that what his customers wants, he should therefore, know what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods

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Answer 2

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Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods.