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What are the limitations of national income statistics?
National income statistics are heavily limited by disclosure. If many people choose not to reveal their true income levels, the statistics available will be skewed.
What is the beginning of statistics?
Florence Nightingale is described as "a true pioneer in the graphical representation of statistics".
Is this true or false statistics are only used to present information in a biased and therefore misleading way?
Statistics themselves are purely factual and can not be biased or misleading. When people start making inferences and interpretations based on the statistics, that is when they can become biased or misleading.
What is relation between accounting and statistics?
relation between accounting and statistics is:it helps in the rational [true} decision making. statistics is concerned with typical value, behaviour or trend over a period of time of series of observations. statistics are useful in developing accounting data and their interpretation
State and discuss limitations of statistics?
Despite The usefulness of statistics in Many fields, impression should not be carried that statistics are like magical devices which always provide the correct solution of problems.1. Statistics does not deal with isolated measurement:not all quantitative data are statistical. Isolated measurements are not also statistical. Data are statistical when they are related to measurement of masses, not statistical when they are related to an individual item or event as a separate entity.2. Statistics deals only with quantitative characteristics: statistics are numerical statements of facts. Such characteristics cannot expressed in numbers are incapable of statistics analysis.3. statistical results are true only on an average: the conclusion obtained statistically are not universally true; they are true only under certain conditions.4. Statistics is only a means: Statistical methods furnish only one method of studying a problem. They may not provide the vest solution under all circumstances.5. Statistics can be misused: The greatest limitation of statistics is that it is liable to be misused. The misuse of statistics may arise because of several reasons. For example, if statistical conclusion are based on incomplete information, one may arrive at fallacious conclusions.
