In the world of business, statistics serves asthe gateway to determining projected plans and ideas. Without concrete numbersor projections, there is not a lot of room for growth and stability. With anyexamination, analyzation, or layout plan, there are limitations that can hinderthe intended results. Complications arise from uncertainty. It is important toknow the limits before forming an unguided conclusion. Fromthe article “4 most essential limitationsof Statistics”, it stated information about limitations to statistics.
“Statisticsdeals with facts and figures. So the quality aspect of a variable or thesubjective phenomenon falls out of the scope of statistics. Statistical lawsare not strict as incase of natural sciences.
These laws are factual only onaverage. Statistics compacts with aggregate of facts. Single or isolatedfigures are not statistics. This is considered to be a major handicap ofstatistics. Statistical methods rightly used are beneficial but if misusedthese become harmful. Statistical methods used by less expert hands will leadto inaccurate results. Here the fault does not lie with the subject ofstatistics but with the person who makes wrong use of it (Preserve Articles, 2012).” Thisleads to the goal at hand with determining the limitations of the study”College and Job Status Statistics”.
Before reaching this stage, the goal ofoutlining the probability of job status was determined. Also, the goal ofhighlighting the statistical value of a college education was successfullyexecuted. However, there are limitations to this study as well. It is easy toform a rational conclusion on the data that is presented but the limitation iscredibility from the sources used. The articles previously used came fromsources displayed by corporate figures.
Yet, the sources failed to go outsidethe box of prospects. I am referring to “job prospects” that could form outsideof the regular market. This pertains to the area of the college graduate andthe demand in the current market.
One thing to consider is the fact that manygraduates utilize their degrees in other regions and eliminate being added tothe number of people who are unemployable even with a degree. If the sourcesincluded statistics on individuals who set up in another state with highdemand, the conclusion would have been more reasonable. The most commonconclusion formed in the United States is that a college education does nothold much weight in our society. That is not entirely true because collegegraduates have a better chance using their degree in other markets and regions.The media and political leaders criticize “college and job prospects” bynarrowing prospects to the poor performing cities and states. From the article”The Best States For Business and Careers”,the author stated “A recent CBS News poll found that 54% of adults think theeconomy and jobs are the most important problem the U.S.
is facing today.Health care ranked a distant second, with 7% of the tally. Almost every stateexperienced decreased output, a loss of jobs and budget shortfalls during theeconomic downturn. Nationwide employment has declined by 7 million jobs overthe past two years while gross domestic product growth has been sluggish thisyear after a 2.6% drop in 2009. No state has emerged unscathed (Badenhausen, 2010).But some areas are doing better than others, and for many of them, itisn’t an accident.
Who’s doing the best job when it comes to fostering growth? Utah’s economy has expanded 3.5% annually overthe past five years, faster than any other state except North Dakota. This isthree-and-a-half times faster than the U.S. as a whole. Total employment in theU.
S. has shrunk over the past five years, but in Utah it increased 1.5%annually, fourth-best in the nation.
Household incomes have surged 5% annually,which is tops in the country and twice as fast as the national average (Badenhausen, 2010).” Theprevious article ties to the point of identifying other factors that influencesociety’s opinion on the low production of college graduates and theirprospects. The growth and production of the state negatively influencesprospects for degree holders. If the rate of growth is low for a region, therewill be a decrease in opportunities. That results in degree holders not workingin their field. If the degree holders in poor states navigate to a healthymarket, the projections will be higher.
That is what analyzers have failed toconsider. Inthe real world, opportunities are there but they increase in probability whenknowledge expands. The study of “job and college status” relates to real-worldbusiness practices. Many employers work with their associates to add value totheir life. I am referring to assisting them with their education expenses andrecommendations. Places like Wal-Mart and Target will fund someone’s educationif he or she shows promise.
However, statistical studies can discourage employersfor providing assistance to individuals seeking degrees. From the article “Tuition Assistance”, the author stated “Tuitionassistance, or tuition reimbursement as it is also known, is anemployer-provided employee benefit that is a win-win for your workplace. In atuition assistance program, an employer pays all or part of an employee’s costto attend college or university classes.
Tuition assistance helps employersbuild employee loyalty and longevity. Tuition assistance is an employeeretention tool. It is also a recruiting tool that benefits employers with highpotential employees who are focused on growth and learning. Tuition assistanceis a benefit that many potential employees seek (Heathfield, 2017).Tuition assistance enables employees to continue to expand theirknowledge and skills while working.
Employee continuing development isdefinitely a plus for the employer, too. The employer benefits from anylearning that an employee pursues, even if it is indirectly through suchfactors as retention and commitment (Heathfield, 2017).”Employers employ these practices to increase the possibilities ofretention.
The flip side of executing ethical acts is the factor that isuncertainty of the good deed. Employers who assist associates with educationquestion the demand for a college education and wonder the financial assistanceis worth it. From the article “Employersvalue skills over college degrees”, the author stated “”Employees withcollege degrees believe that their education helped get them through the door,but about half say it has no relevance to the work they’re actually doing. Thesurvey also revealed just how little attention employers pay to an applicant’scollege performance, with 80% of respondents saying they had never been askedabout their grade point average during a job interview.
That highlights howmuch more important learning new skills, both within the company or throughcontinuing education, like certificate programs, online training or webinars,is today than it was 10 or 20 years ago (Christie, 2014).”Having an education is important but some belief it is not worth thepaper it is printed on. Statistical professionals failed to factor in theseaspects.