Limitations of Statistics:-
Despite all it's characteristics and functions, statistics also have certain limitations
1. Statistics does not deal with qualitative data
Qualitative data deals with meanings while qualitative data deals with numbers. Qualitative data describes properties or characteristics that are used to identify things. Qualitative data describes data in terms of quantity using the numerical figure accompanied by measurement unit. Statistics deals only with quantitative data.
Statistics deals with numerical data, which can be expressed in terms of quantitative measurement. So, the qualitative phenomenon like beauty, intelligence cannot be expressed numerically and any statistical analysis cannot be directly applied on these qualitative phenomena. But statistical techniques may be applied indirectly by first reducing the qualitative data to accurate quantitative terms. For example, the intelligence of a group of students can be studied on the basis of their marks in a particular examination.
Indian Exporters :- Export Credit Guarantee Corporation of India, was established in the year 2001 by the Indian exporters need of India to strengthen the export promotion drive by covering the risk of exporting on credit.
Being essentially an export promotion organization, it functions under the administrative control of the Ministry of Commerce & Department of Commerce, Industry Government of India. It is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community.
Offers protection to exporters against payment risks
Provides guidance in export-related activities, makes available information on different countries with its own credit ratings, makes it easy to obtain export finance from banks and other. Assists exporters in recovering bad debts, provides information on credit-worthiness of overseas buyers
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