When using statistics in economics,the possibility of error
A)cannot be eliminated.
B)cannot be controlled.
C)cannot be evaluated.
D)is not considered to be important.
E)can be eliminated with more sophisticated statistical techniques.

Question

Quizplus · Accepted Answer

In economics, the possibility of error in statistical analysis cannot be completely eliminated. Every statistical analysis involves some degree of uncertainty and error, which is why it is important to properly interpret and evaluate results. However, the use of sound statistical techniques and careful data collection can help to minimize the risk of error.

When Using Statistics in Economics,the Possibility of Error