Which of the Following Is Not True of Statistics

question 57

Multiple Choice

Which of the following is not true of statistics?

• A) Statistics is used to answer questions with 100% certainty.
• B) Statistics involves collecting and summarizing data.
• C) Statistics can be used to organize and analyze information.
• D) Statistics is used to draw conclusions using data.

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Definitions:

Marginal Revenue

The extra revenue earned by selling an additional unit of a product or service.

Marginal Cost

The added financial burden incurred by manufacturing one more good or service unit.

Government Rules

Regulations and guidelines established by government authorities to govern behavior, enforce standards, and protect the public interest.

Economies Of Scale

The cost per output unit tends to decrease as the operational scale increases, providing companies with financial advantages due to their size.