Business Studies, asked by pavanbulzer, 2 months ago

Explain the importance and limitations of Statistics

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Answered by deepakojha11411

Answer:

Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results. Statistics is a crucial process behind how we make discoveries in science, make decisions based on data, and make predictions.

Limitations of Statistics

Statisticians improve the quality of data with the design of experiments and survey sampling. (i) Statistics does not deal with isolated measurement. (ii) Statistics deals with only quantitative characteristics. (iii) Statistics laws are true on average. Statistics are aggregates of facts

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