Question

Define statistics. give its limitations and functions

Answer 1

Statistics is a stream of mathematics that pertains to collection, analysis and interpretation of data. It is a distinct mathematical science rather than a branch of mathematics.

Functions of Statistics:

1. To present facts in definite form.
2. To make comparisons.
3. Formulation and Testing of Hypothesis.
4. Forecasting.

Limitations of Statistics:

1. Statistics never provides an accurate answer.
2. The problem solving approach in statistics is hypothetical.
3. Statistics is only applicable to quantitative data