Question

write down the functions of statistics in economics. ​

Answer 1

The statistics are presented in a definite form so they also help in condensing the data into important figures. ... In other words statistics helps in simplifying complex data to simple-to make them understandable. The data may be presented in the form of a graph, diagram or through an average, or coefficients etc.

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Answer 2

Answer:

Precision to the Facts:

The statistics are presented in a definite form so they also help in condensing the data into important figures. So statistical methods present meaningful information. In other words statistics helps in simplifying complex data to simple-to make them understandable.