Statistics is clay which can be used to make god or devil. How? - Vidyadip

Question

Statistics is clay which can be used to make god or devil. How?

✓

Answer

Statistics is mostly a tool of analysis. Statistical techniques are used to analyze and interpret the collected information in an enquiry. As it is, statistics does not prove or disprove anything. It is just a means to an end. Statements supported by statistics are more appealing and are commonly believed. For this. statistics is often misused. Statistical methods rightly used are beneficial but if misused these become harmful. Statistical methods used by less expert hands will lead to inaccurate results. Here the fault does not lie with the subject of statistics but with the person who makes wrong use of it.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Introduction→Introduction — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Find elasticity of supply when price increases by $20$ per cent and quantity increases from $100$ to $250$ units of the commodity.

The sales of a balloon seller in seven days of a week are as given below.

Days	Mon	Tue	Wed	Thu	Fri	Sat	Sun
Sales (in ₹)	100	150	125	140	160	200	250

If the profit is 20% of sales, then find his average profit per day.

State some special properties of the arithmetic mean.

A firm withdraws ₹10,000 from its fixed deposits with the bank and uses the money for the purchase of factory equipment. Find the cost of this investment.
Or
An industrialist withdraws ₹10,000 from his term deposits and purchases a generator set. It involves an element both of explicit cost as well as implicit cost. Explain this fact with a reason.

As a result of 15 per cent rise in the price of a commodity, its supply increases from 25 units to 30 units. Calculate elasticity of supply.

Calculate the coefficient of correlation from the following data:$\Sigma\text{xy}=4880,\sigma_\text{x}=28.70\sigma_\text{y}=18.02,\text{n}=10$

Using supply and demand curves, show how an increase in the price of shoes affects the price of a pair of socks and the number of pairs of socks bought and sold.

Calculate MRT from following table. What will be the shape of PPF and why?

Combinations	Green Chilly (Units)	Sugar Units
A	100	1
B	95	1
C	85	2
D	70	3
E	50	4
F	25	5

Classify the following statements into positive economics or normative economics, with suitable reasons:
a. Government should try to control the rising fiscal deficit.
b. Real Gross Domestic Product (GDP) is calculated on the basis of base year price.

Explain ‘large number of buyers and sellers’ feature of perfectly competitive market.