In the field of forensic accounting and economics, experts utilize government and industry studies and statistics all the time, especially when actual information specific to an individual is unavailable. For example, in calculating the future lost earning capacity for minors, economic damage experts will have no work or earnings history to rely upon and will utilize earnings, fringe benefit and work life statistics in order to determine monetary damages. In applying information from various studies, an expert’s understanding of how the data was gathered, the reliability of the source, how current the statistics are, and the applicability to the case at hand may determine if an entire calculation is deemed to be performed to a reasonable degree of certainty or alternatively if the calculation is excluded by the court.
 
Continue to the blog for more.