"planning without statistics is like a ship without radar and compass."In the light of this statement explain the functions of statistics as an effective aid to national planning.
Dear student,
The functions of statistics are:
1) Statistics simplifies data by presenting it in numerical form, which helps in making conclusions easily.
2) Statistics facilitates comparison using statistical tools, as average, percentage, ratio, etc.
3) Statistics help in the formulation of various policies and theories.
4) Statistics help in studying relationship between various economic variables.
5) Statistics help in forecasting the market situations.
6) Statistics help in testing various theories and policies.
Therefore, it is rightly said that planning without statistics is like a ship without radar and compass.
Regards
The functions of statistics are:
1) Statistics simplifies data by presenting it in numerical form, which helps in making conclusions easily.
2) Statistics facilitates comparison using statistical tools, as average, percentage, ratio, etc.
3) Statistics help in the formulation of various policies and theories.
4) Statistics help in studying relationship between various economic variables.
5) Statistics help in forecasting the market situations.
6) Statistics help in testing various theories and policies.
Therefore, it is rightly said that planning without statistics is like a ship without radar and compass.
Regards