Question

who is of the following is not a function of statistics? (a) economic forecasting (b ) economic equilibrium (c) political equilibrium (d) construction of economic models​

Answer 1

Answer:

Option(c)Political equilibrium is not a function of statistics.

Explanation:

A branch of mathematics, statistics is a body of knowledge that deals with the gathering, examination, interpretation, and presentation of data.

The function of statistics:

• A more thorough knowledge and precise description of natural events are provided by statistics.

• Statistics aids in the proper and effective planning of any subject of study's statistical research.

• Statistics facilitates the gathering of pertinent quantitative data.

Economic forecasting - The technique of forecasting the state of the economy using a variety of frequently used indicators is known as economic forecasting.

• Economic equilibrium is the set of economic variables that the economy is driven toward by standard economic processes like supply and demand.

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Answer 2

Option(c) is the correct answer

Political equilibrium is not a function of statistics.

Explanation:

Statistics is a branch of mathematics, It is a body of knowledge which deals with the gathering, examination, interpretation, and presentation of data.

Function of statistics:

• A more thorough knowledge and precise description of natural events are provided by statistics.
• Statistics aids in the proper and effective planning of any subject of study's statistical research.
• Statistics facilitates the gathering of pertinent quantitative data.

a)Economic forecasting - The technique of forecasting the state of the economy using a variety of frequently used indicators is known as economic forecasting.

b)Economic equilibrium is the set of economic variables that the economy is driven toward by standard economic processes like supply and demand.

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