Web Results

www.quora.com/What-is-the-importance-of-statistics-in-economics

Statistics in Economics: Whenever you are going to study statistics, you would also learn statistics. Statistics and Economics are interrelated with each other. It is impossible to separate them. The development of advanced statistics has open new...

www.reference.com/world-view/importance-statistics-economics-c4bb5f1c24b6b9cb

The importance of statistics in economics starts with economics research methods. These are used to collect and analyze data for factors, such as per capita income and inflation rate. Economics Statistics play a major role in this field and they feed into each since both are largely number- and fact-based.

www.emathzone.com/tutorials/basic-statistics/importance-of-statistics-in...

Now statistics holds a central position in almost every field, including industry, commerce, trade, physics, chemistry, economics, mathematics, biology, botany, psychology, astronomy, etc., so the application of statistics is very wide. Now we shall discuss some important fields in which statistics is commonly applied.

www.toppr.com/guides/economics/statistics-for-economics/statistics-in-economics

Relative: Statistics in economics in its plural sense has the feature of comparability. This means that the same kind of data from different sources can be compared. Multiple factors: Statistics is affected by a large number of factors and not just a single factor. For example rise in the price of a commodity is not because of a change in one ...

www.economicsdiscussion.net/statistics/8-functions-of-statistics-scope-and...

8 Functions of Statistics (Scope and Importance) ... Scope and Importance of Statistics: ... Our mission is to provide an online platform to help students to discuss anything and everything about Economics. This website includes study notes, research papers, essays, articles and other allied information submitted by visitors like YOU. ...

www.quora.com/What-is-the-use-of-statistics-in-economics

Statistics is a data interpretation tool used for collecting, classifying and analyzing data. It is an indispensable tool for an economist to understand various business and economic problems and formulate policies to tackle with them. In economic...

en.wikipedia.org/wiki/Economic_statistics

Economic statistics is a topic in applied statistics that concerns the collection, processing, compilation, dissemination, and analysis of economic data.It is also common to call the data themselves 'economic statistics', but for this usage see economic data.The data of concern to economic statistics may include those of an economy of region, country, or group of countries.