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statistical data renders valuable assistance in the proper understanding of economic problems and formulation of economic policies. Most economic problems involve facts which can be expressed numerically for example, volume of trade, wages, prices, tax, etc. In economics, the increasing importance of statistics in the study of economic problems has resulted in a new branch of study called econometric.
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EzraThe people in societies can be subdivided into many overlapping groups. In statistical science, each of these groups can be called "populations" and subgroups of these can be chosen as "samples" . Statistical procedures can be used to summarise counts and measurements taken in regard to populations. Estimates of the characteristics of populations are also made by studying samples. Statistical methods are also available to check whether mathematical relationships are more or less likely to have been caused by chance.
The various statistics obtained by these procedures are often used in discussions by social scientists to advance or disprove their theories.
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Was albert Einstein better at reading math science or social studies?
science
Why is social science considered a science?
It studies the interactions in groups of humans. And, therefore, is a science. "If it studies any thing science may it be."
Application of statistics in social sciences?
How can i apply statistical formulas in social science.
Is geometry is a social science or natural science?
It is not a science, it is a form of mathematics. The suffix "-metry" often refers to mathematics, "-ology" refers for a type of science.
How is mathematics defined?
Mathematics is a formal science that deals with quantity, space, and change. It is an abstract science that attempts to ascertain and model real objects and phenomena in the physical, biological, and social world.
