oil prices are rising globally how will statistics help us to know that how much oil should be imported
Dear Student,
As we know, in the plural sense , statistics refers to the systematic collection of numerical facts. It indicates information in terms of numbers or numerical data such as data relating to consumption of oil. Now, statistics on the basis of the expected oil production and demand for oil ascertains how much oil should be imported in a country in the given year.
Hope this clears your doubt.
As we know, in the plural sense , statistics refers to the systematic collection of numerical facts. It indicates information in terms of numbers or numerical data such as data relating to consumption of oil. Now, statistics on the basis of the expected oil production and demand for oil ascertains how much oil should be imported in a country in the given year.
Hope this clears your doubt.