TITLE:
Statistics: Its Utility, Its Risks
AUTHORS:
John Y. Wu
KEYWORDS:
Statistics, Utility, Risks
JOURNAL NAME:
Open Journal of Philosophy,
Vol.4 No.4,
November
3,
2014
ABSTRACT: Since natural science is our most precise and careful method of investigation of reality, based on our most precise thinking, mathematics, statistics as the mathematical point of contact with reality is the spearhead of scientific investigations-points of reality-contact-such as physics and engineering. This essay briefs technical calculations of statistics, as it focuses on the vast significance of statistics by One, citing two concrete examples to show its utilitarian power penetrating the concrete situations, and then Two, our cautions on its use, some quite serious.