Limitations of Statistics
The field of Statistics,’ though widely used in all areas of human knowledge and widely applied in a variety of disciplines, it has its limitations. It cannot be applied to all situations. Some of the limitations are
(i) Statistics deals only with aggregates and no importance is given to individual items.
(ii) Statistics studies only quantitative characteristics and does not study qualitative characteristics.
(iii) Laws of Statistics, are true on an average
(iv) Statistical results are only approximately correct.
(v) Statistics does not reveal the entire story rather it is a helping hand.
(vi) Statistics can be misused and hence should be applied only by experts.
STATISTICAL POPULATION AND SAMPLE
By Population we generally mean human population but in Statistics population is the aggregate of some individuals or objects, under study. It is also called Universe. A population may be finite or infinite depending upon the number of elements in it. For example, population of students in a class is finite whereas the population of sand particles in a river beach is infinite. Again a population may be real or hypothetical. For example, population of books in bookstall is real whereas the population of outcomes of a die throwing many a number of times is hypothetical.
The number of units in a population is called population size.
A Sample is a small representative part taken from the population to know the characteristic of the population under study. The number of units in a sample is called its sample size. For example to know the average height of 100 students, if we select 5 students and by measuring them infer about the average height of 100 students, then 5 students constitute a sample.
Refer Link: Expertsmind.com