Question

Explain the function and limitations of statistics

Answer 1

The important limitations of statistics are:

(1) Statistics laws are true on average. Statistics are aggregates of facts, so a single observation is not a statistic. Statistics deal with groups and aggregates only.

(2) Statistical methods are best applicable to quantitative data.

(3) Statistics cannot be applied to heterogeneous data.

(4) If sufficient care is not exercised in collecting, analyzing and interpreting the data, statistical results might be misleading.

(5) Only a person who has an expert knowledge of statistics can handle statistical data efficiently.

(6) Some errors are possible in statistical decisions. In particular, inferential statistics involves certain errors. We do not know whether an error has been committed or not.

Answer 2

Functions and limitations of statistics

Explanation:

Functions of statistics-

• statistics helps in presenting statistical facts and figures in definite and concise form , so that further studies can be conducted.
• since facts are presented in a format so it helps us in making comparison easy.
• based on the statistical data we can do forecasting and make the desired policies.

Limitations of statistics

• Statistics recognizes only numerical data, so qualitative data which is very important in taking decisions are ignored.
• statistics deals with aggregate of facts and hence it ignores individual data.
• statistics may be misused by some people.

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definition, functions and limitation of statistics

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