Using concrete examples from your country, explain the use of statistics in economic analysis

Explanation:

Importance of statistics for evidence-based policy making

Statistics is a mathematical science involving the collection, analysis, and interpretation of data, as well as the effective communication and presentation of results relying on data. Through application of various tools and techniques in statistics, the raw data becomes meaningful and generates the information for decision making purpose. Statistics is very important when it comes to the conclusion of research. Statistical methods and analyses are often used to communicate research findings and give credibility to research findings and conclusions. It is important for the users of research to understand statistics so that they can be informed, evaluate the credibility and usefulness of information, and make appropriate decisions.  

Today, statistical methods are applied in most of the fields that involve decision making, for making accurate inferences from arranged data. Evidence-based policy has been defined as an approach which “helps people make well informed decisions about policies, programmes and projects by putting the best available evidence at the heart of policy development and implementation” (Davies, 1999). Different evidence based policies of the government are based on statistics. For instance, statistics holds a central position in fields like industry, commerce, trade, economics, biology, astronomy, etc., hence application of statistics is very wide.

the earthquake in haiti was a magnitude of 7.0 according to the u.s geological survey yet the smaller earthquake in haiti killed more than 200,000 and left more than 1.2 million people homeless. the chile earthquake was a magnitude of 8.8 and 500 times more stronger but chile's earthquake only injured 712 people.

answer; archaeologists;