Statistics in Prediction
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Question (English)
An economist might use Statistics to predict the impact of today's investment on:
- Yesterday's income
- National income in the future ✓ Correct
- Past consumption
- Historical data
Explanation:
Correct Answer Explanation
An economist might use Statistics to predict the impact of today's investment on national income in the future.
Key Points:
- Prediction of future trends is a key use of statistics.
- Statistical tools help in economic planning.
- Example: predicting expected consumption in 2020 to decide production plan.
Why Other Options Are Wrong
- A, C, D: Statistics predicts future impact, not past events.
📚 About this Topic — CH-1: Introduction
This multiple choice question is from CH-1: Introduction, NCERT Books, Statistics for Economics. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: Introduction to strengthen your preparation.
