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What percentage of statistics are made up on the spott?
90
What are the advantages and disadvantages of inferential statistics?
One advantage of inferential statistics is that large predictions can be made from small data sets. However, if the sample is not representative of the population then the predictions will be incorrect.
What percentage of statistics are made up on the spot?
Over 99.9% of all statistics are made up on the spot, including the statistic that I just made up right now. It's impossible to say how many statistics are made up on the spot, but as most people with access to the media (TV/the Internet/etc.) instantly feel that they are endowed with *cough* reputable data, that make well over 1/2 the people in the world responsible for the creation and distribution of impromptu (ergo "bullsh*t") statistics. Although it's impossible to collect accurate data on anything involving the word "all" (unless of course if you happen to be God, and I don't think even God would have the patience to aggregate all that data and update his memory banks in real-time!), I think it's safe to say that since far less than 0.1% of those who make statistics are actually statisticians, that over 99.9% of statistics are made up on the spot.
What is the relationship between economics and statistics?
Many aspects of Economics depend on independent decisions made by a very large number of participants. These actions can be estimated by statistics, and statistical models fitted to economic processes.
What is the meaning of Detached Statistics?
In an ad for moisturizing lotion, the following claim is made: "…it's the #1 dermatologist recommended brand "what is misleading about the claim?
