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Functions and limitations of statistics?
definition and meaning of statistics
What are some limitations of statistics?
limitations of statistics are as follows: 1. Statistics does not deal with an individual 2.It is not suitable to the study of qualitative phenomenon 3.Statistical relations are not exact 4.Statistics is liable to be misused 5.Statistics is only a means
What are the limitations of disparate impact statistics as indicators of potential staffing discrimination?
What are the limitations of disparate impact statistics as indicators of potential staffing discrimination?
Limitation of national income statistics of making international comparsion of living standards?
firstly there are lack of standardization,i.e,countries compute their national income differently. secondly different needs,tastes and consumption patterns of different countries thirdly Exchange rate,i.e, different currencies to compute national income
Limitations of statistics?
One limitation of statistics is that everyone doesnÕt understand them or how to use them. There is also a possibility for errors.
What are the importance and limitations of national income statistics?
The importance of national income statistics is to show a national income figures and show the performance of the company. The limitations are there are room for errors in report , some categories are not accurate or are misrepresented , and they do not measure welfare as a source of income.
National income estimates in India are prepared by?
In India, the national income estimates is prepared by the Department of Statistics of the Government of India.
What are the uses of national income statistics?
There are so many uses of national income statistics. This is commonly used to measure the economy and living standards of the people in a country.
'National Income statistics are a powerful tool of economic understanding and analysis' Explain 'An economy's output is its income' Do you agree Explain?
national income measures the wealthy that exists in an economy.national income statistics wl determine national output under the fomular:output=income=expenditure!however the appropriateness of national income ar a measure of output is compromised by the weaknesses inherent in obtaining national income data!national income disregards underground economy or the black market which as a result economies that constitute a significant amount of such markets would have an understated national income figure thus its true measure of national out put wl nt be realised if these statistics are used!
How reliable are national income statistics as a means of comparing living standards between countries?
Some national statistics can be reliable is they have been adjusted. The World Health Organization adjusts their statistics so that their statistics are reliable.
What are the features of national income?
*national income statistics provide a wide view of country's entire economy. it provide a wide view of various groups in population who participates as producers and income receiver.
Scope and limitations of statistics?
scope and lim;tation of statics
How can the problems encountered in measuring national income be minimised?
Ensure you have the correct statistics and you calculate correctly.
Functions and limitations of statistics?
definition and meaning of statistics
What are the limitations of using national income figures in comparing the standards of living between different countries?
Almost never, because gross income gaps can largely distort statistics, if 50% of the population are earning very high, while the rest 50 much less, then the average may well be guided by the upper-half.
Uses of national income statistics?
National income statistics are used to: > measure the level of economic growth from year to year. > These can be used to compare the standard of living in one country with another. (because they are international stats) > These statistics can be used to evaluate the economic climate nationally and internationally. > Statistics allow the Government to plan and forecast as they can see how much income each sector in a country is generating. > They can be used to justify changes in expenditure and cut-backs, i.e. Increase in wages for a sector that is generating a large percentage income for the economy.
What are the features of income?
*national income statistics provide a wide view of country's entire economy. it provide a wide view of various groups in population who participates as producers and income receiver.
