# Limitations Of Statistics Pdf

Variation can be found by quartile deviation, mean deviation or standard deviations and results vary in each case. King, it is clear that statistical results are not absolutely true. They hold good under certain conditions. So we analyse only that data we find quantitatively and not qualitatively.

Business managers use statistics as an aid to making decisions in the face of uncertainty. So data must be used with a caution. Hence, it is not possible to examine a problem statistically in all its manifestations and arrive at the correct conclusions. These include health, riches, intelligence etc.

## Importance of Statistics to Industry & Business

Second, we discuss the difference between experimental and non- experimental research. We have seen that the two fundamental laws of statics viz. As the mean includes every value in the distribution the mean is influenced by outliers and skewed distributions. Managers analyze past data to find statistical trends and make predictions about the future.

Big Data Partner Resources. Using statistics provides real data about complex situations rather than making decisions based on unsubstantiated hunches. So these results will not always be as good as of scientific laws. However, if these phenomena could be transformed to some sort of quantitative form they can be studied statistically without any difficulty. Statistics have always been a topic of mystery for a lot of individuals, while others have there own bright ideas when it comes to the use of this science.

When even phenomena happen, that is due to many causes, but all these causes can not be expressed in terms of data. Ateneo de Manila University. In turn, these projections would then be used to set up production schedules. Is there enough demand to justify spending money to develop the product and, ultimately, to build a plant to produce it? You might have formulated research aims and objectives too broadly.

## 8 Main Limitations of Statistics Explained

Finally, we explain how variables can be characterised as either categorical or continuous. Again, there will be some uncertainty in this process, which will have repercussions on the certainty of the results of some inferential statistics. Hence, it is said that statistics is not concerned with the qualitative phenomena. Relation of Statistics with other Sciences.

James has been writing business and finance related topics for work. Thus, qualitative phenomena like honesty, sincerity, greatness, intelligence, efficiency, blindness, deafness etc. Statistical methods can allow a manager to evaluate the project under different economic environments, changing consumer preferences and strength of the competition. Now a days statistics is used in all the aspects of the life as well as universal activities. It is a robust statistic, being more resilient to outliers in a data set than the standard deviation.

## ENTREPRENEURSHIP

As they are unable to give complete solution to a problem, the result must be taken and used with much wisdom. It is also important for you to explain how these limitations have impacted your research findings. As discussed above, here the results are interpolated for which time series or regression or probability can be used. The second limitation is connected with the first limitation. Formulation of research aims and objectives.

Thus, a particular aspects expressed numerically may not be correct and reliable as it is not drawn on the entire background of the phenomenon. Statistical methods used by less expert hands will lead to inaccurate results. Statistical Tools Used in Economic Analysis. They are not applicable to all individual cases, although they are derived as the average result of all the individuals forming the group. Thus, on the basis of statistical analysis we can talk only in terms of approximation and probability but no in terms of certainty.

They take random surveys of consumers to gauge the market acceptance and potential for a proposed product. Some, but not all, inferential tests require the user i. You can specify in which ways the formulation of research aims and objectives could be narrowed so that the level of focus of the study could be increased. Similarly, honesty of a society can be studied statistically with reference to the comparative figures of crimes committed over a number of years. Most of the phenomena are affected by a number of factors all of which are not capable of being expressed quantitatively.

It is very often used in most of the spheres of human activity. Thus, it is said that statistics does not reveal the entire story of a phenomena. Literature review findings are used as the foundation for the researcher to be built upon to achieve her research objectives. While using statistics to make decisions is helpful, it has limitations. Here the fault does not lie with the subject of statistics but with the person who makes wrong use of it.

Go for mode, as mode is nothing but the most frequently occurring value in a particular distribution. For example, if conducting a meta-analysis of the secondary data has not been stated as your research objective, no need to mention it as your research limitation. These are not absolutely true.

In this article, we will try to understand those nuances and their unknowns by exploring their limitations. Your research may have multiple limitations, but you need to discuss only those limitations that directly relate to your research problems. What are the limitations of descriptive statistics. However, change pdf from read only to write the application of statistics is both an art and a science and should not be used as the sole basis for making decisions. So statistics has less practical utility.

It is because of this fact that the squares of the deviations, which are big in size, would be proportionately greater than the squares of those deviations, which are comparatively small. For example, the average marks of a group of students does not mean that each student of the group has secured the same average mark. Sample size depends on the nature of the research problem.

This is considered to be a major handicap of statistics. Types of Variable All experiments examine some kind of variable s.

Thus, individual figures like death of five passengers in a bus accident, B. When properly used, statistical methods make the decision-making process much easier. Managers want to know if there will be enough demand for the product. Statistics deals with facts and figures. There are two main limitations to the use of inferential statistics.

Companies use statistics in market research and new product development. As it is, statistics does not prove or disprove anything. So experiments are being undertaken to measure the reactions of a man through data.

First, we illustrate the role of dependent and independent variables. From this statistical model, the farmer can make an informed decision about which product to plant. It gives more weight to extreme items and less to those which are near the mean. However, it is critically important for you to be striving to minimize the range of scope of limitations throughout the research process. Hence, the conclusions based on these laws will not be as exact as those based on the law of physics or chemistry.

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