Question

State with reason, whether you agree or disagree

Statistics is not important to the students of economics.

Answer 1

No, the study of economics is incomplete without statistics. This is because economic statements are irrelevant if not backed by appropriate statistical data. While economics and economic laws define the relationships between various economic aggregates, statistics makes these laws more meaningful and accurate. In fact, various important interrelations between economic factors are studied with the help of statistics. Therefore, it would be wrong to say that statistics is not important for students studying economics.