Statistics Is Based On Partial Information

by | February 18, 2017

Hi. I thought that I would like to mention that with all these polls and “statistics” that is out there on the internet, TV and in articles you should remember that statistics is based on partial/incomplete information.

You could say that the numbers don’t lie but they may not tell you everything. Statistical data and results need to be supplemented with context. For example, an increase in 1000 jobs at a region sounds nice but it is still vague. What are these jobs? Which industries are affected? Are these jobs measured as full-time jobs or part time jobs? What are the salaries and hours for these jobs?

For more details, you can look at one of my previous articles here.

The featured image is from http://aquaticinformatics.com/wp-content/uploads/crowdfunding-statistics-2.jpg

 

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