Which of the Following Statements About Statistics Is FALSE

question 33

Multiple Choice

Which of the following statements about statistics is FALSE?

• A)Statistics can be used to support virtually anything.
• B)Statistical methods and interpretation should not be included in the report process because they are easily misinterpreted.
• C)Statistical interpretation is the only practical and valid method by which some data can be interpreted.
• D)The use of statistical interpretation often seems valid and objective, even when it is not.
• E)All of the above statements are incorrect.

---

Definitions:

Expected Opportunity Loss

The average loss resulting from not choosing the best alternative in decision-making under uncertainty.

Gross Profits

The difference between revenue and the cost of goods sold, representing the basic profitability of the products or services sold before other expenses.

Payoff Table

A table showing the expected outcomes or results of different strategies or decisions under various conditions.

Payoff Table

A table that shows the outcomes of different decisions under various states of nature.