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Introduction — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIntroduction6 Marks
Question
Enumerate the limitations of statistics in detail.
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Answer

The six limitations of statistics are explained below:
  1. Study of Numerical Facts: Only Statistics is numerical statement of facts. Statistics is not appropriate for the study of qualitative aspects, like honesty, friendship, wisdom, etc. It can be used for measuring quantitative data only.
  2. Study of Aggregates Only: Statistics is aggregate of facts. It does not study individuals units.
  3. Homogeneity of Data, an Essential Requirement: The data must be homogeneous and uniform, otherwise the comparisons may not be possible.
  4. Results are True Only as an Average: Most statistical findings are true only as an average. Hence, the conclusion are of approximate nature. So, statistics as a science is less exact as compared to natural sciences.
  5. Without Reference, Results may Prove to be Wrong: In order to understand the conclusions precisely, it is necessary that the circumstances and conditions under which these conclusions have been drawn are also studied, otherwise they may prove to be wrong.
  6. Can be Used Only by the Experts: Statistics cannot/ should not be used by inexperts. This will give rise to the distrust of statistics. Statistics is necessary but at the same time it is imperfect and should therefore be used by experts only.

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