There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below.
Assertion: Quite often, Statistics is used in finding relationships between different economic factors.
Reasoning: Statistics helps economists present economic facts in a precise and definite form.
Answer & explanation
Correct answer: option 2
The correct answer is option 2: Both Assertion (A) and reasoning (R) are correct but R is not the correct explanation of A.
Assertion: Quite often, Statistics is used in finding relationships between different economic factors. This is correct. Statistics plays a crucial role in economics. Economists use statistical methods to analyze large datasets, identify trends and patterns, and test economic theories. This helps them understand relationships between various economic factors like inflation, unemployment, interest rates, etc.
Reasoning: Statistics helps economists present economic facts in a precise and definite form. This is correct. Statistics is a powerful tool for presenting economic data in a clear, concise, and objective manner. It allows economists to use charts, graphs, and other statistical tools to communicate complex information effectively.
Thus, both the assertion and the reasoning are correct statements, but the reason given does not explain the assertion. Statistics is used to find relationships between economic factors, and separately, it helps present economic facts precisely. However, presenting facts precisely does not explain how statistics helps in finding relationships between economic factors.