how are statistics used in economics and finance 
economists collect and look at all sorts of data ranging from consumer spending to housing starts to inflation to gdp growth in finance analysts and investors collect data about companies industries sentiment and market data on price and volume the use of inferential statistics in these fields is known as econometrics several important financial models from the capital asset pricing model capm to modern portfolio theory mpt and the black scholes options pricing model rely on statistical inference the bottom linestatistics is the practice of analyzing pieces of information that might seem conflicting or unrelated at first glance and on the surface it can lead to a solid career as a statistician but it can also be a handy metric in everyday life perhaps when you re analyzing the odds that your favorite team will win the super bowl before you place a bet gauging the viability of an investment or determining whether you re being comparatively overcharged for a product or service 