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What is statistics? How does it …

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What is statistics? How does it help in formation of policies for economic development?

Posted by Abhi Malik 5 years, 1 month ago

CBSE > Class 11 > Economics

1 answers

Palak Singh 5 years, 1 month ago

The practice or science of collecting and analysing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample is known as statistics. It helps in formation of policies for economic development because it assess the amount of various resource available in the economy.

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