Question

What is the relationship between economic and statistics?

Answer 1

Answer:

Explanation:

What is the relation between economics and statistics?

From my understanding, Economics broadly is the study of how resource allocation decisions are made by individuals and societies, and using that knowledge to suggest what would be welfare maximizing

Answer 2

Answer:

economists largely has to deal

with observational data where the knowledge of both statistics and economics are the important to get valid,reliable and efficient estimates. A sub discipline with that focus is known as econometric .statistical methods are also sometimes use in evaluating experiment in economic

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I hope this helps you☺☺