Statistics

What is Statistics?

Statistics is a summary of numerical and mathematical information; it is an approach that explains the relationship between different variables. Statistics enables us to understand, interpret data, tabulate and analyze different variables. 

In other words, it enables economists to test theories, edit processes and resolve economic problems. 

The basic tools of economic analysis section cover the following mathematical information:  tables, charts, graphs, charts, and measures of central tendency (Mean, Median and Mode), etc.