Discuss the limitations of statistics.

Discuss in detail about the limitations of statistics.

Compare and contrast primary and secondary data.

Distinguish between Qualitative and Quantitative data.

What are the the Formula for computing Karl Pearson’s Coefficient of correlation?

Explain the steps involved computing the correlation Coefficient.

Calculate Karl Pearson’s Coefficient of correlation from the following data and interpret its value:
Example 1
Calculate Karl pearson's Cofficient of correlation form the followng data and interpret its value:

Price:X	10	12	14	15	19
Supply:Y	40	41	48	60	50

Estimate the coefficient of correlation with actualmean method for the following data.

Age of cars in years	3	6	8	9	10	6
Cost of Annual Maintains	1	7	4	6	8	4

Find the Karl Pearson coefficient of Correlation between X and Y from the following data:

X:	10	12	13	16	17	20	25
Y:	19	22	26	27	29	33	37

Distinguish between correlation and regression.

Fit two regression equation
X on Y and Y on X for the following data.
x̅ =12, y =10, σy = 0.2, σx = 0.1 and r = 0.85

Enumerate the methodology of econometrics?

Given the following data on sales (in thousand units) and expenses (in thousand rupees) of a firm for 10 month.

Month	J	F	M	A	M	J	J	A	S	O
Sales:	50	50	55	60	62	65	68	60	60	50
Expenses	11	13	14	16	16	15	15	14	13	13

a) Make a Scatter Diagram
b) Do you think that there is a correlation between sales and expenses of the firm? Is it positive or negative? Is it high or low?

Find out graphically, if there is any correlation between price yield per plot (qtls); denoted by Y and quantity of fertilizer used (kg); denote by X.

Plot No:	1	2	3	4	5	6	7	8	9	10
Y:	3.5	4.3	5.3	5.8	6.4	7.3	7.2	7.5	7.8	8.3
X:	6	8	9	12	10	15	17	20	18	24

List the degrees of correlation corresponding to various values of r.