Why Decision-makers Should Weigh the Outcomes they Obtain from Various Statistical Methods

Chapter Twelve Forum Discussion
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Chapter Twelve Forum Discussion
In chapter twelve, Gupta talks about the accuracy of the results obtained in statistics. The author says, “Having estimated the trend line, you can legitimately ask, how good are my results” (Gupta, 2011, p. 278)? Decision-makers should weigh the outcomes they obtain from various statistical methods. The results should reflect the situation at hand and help individuals to predict the future. That’s why Gupta emphasizes asking about the validity of the results obtained to avoid being misled by inaccurate and invalid data.
Gupta mentions that a good analysis of statistical data might reveal specific changes. He asserts that “An abrupt change in trend can result from sudden catastrophic events such as war, the changing of a law, a significant invention resulting in a change in technology, or a change in policy resulting from a...