Answer to Question #228280 in Economics for Stephanie

Question

As an accountancy or management accounting student, discuss about the significance of taking up a course in statistics in light of your upcoming research courses and your future career path.

Answer 1

Statistics plays an important role in the management of the economy and social development of the country since the correctness of any managerial conclusion largely depends on the information on the basis of which it was adopted. Only accurate reliable and correctly analyzed data must be taken into account at high levels of government.