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Descriptive Statistics vs Inferential Statistics

Descriptive Statistics Inferential Statistics

 

Descriptive Statistics

1. It describes or summarises the data.
2. A measure of central tendency includes Mean, Mode, Median
3. The measure of variability includes Variance, Standard Deviation, Minimum, Maximum, Kurtosis & Skewness
4. Unlike inferential statistics, descriptive statistics is not developed based on probability theory.
5. When a data analysis draws its main conclusions using inferential statistics, descriptive statistics are generally also presented.
6 A random selection to represent the characteristics of the population
7. Statistics are quantitative values of Sample
8. Eg. Reaching out to 20 of your friends and finding from them whether they like shopping from amazon

 

Inferential Statistics

1. It involves drawing conclusions about data/population from a sample
2. Inferential statistics is made under the framework of probability theory, which deals with the analysis of random phenomena.
3. Inferential statistical analysis infers properties about a population: this includes testing hypotheses and deriving estimates.
4. The observed data is assumed to be sampled from a larger population
5. Representation of the population
6. Parameters are characteristics values of Population
Eg. Out of 100 friends reaching out to 20, and finding from 7.them whether they like shopping from amazon. And based on that you infer about all of your 100 friends

August 7, 2019

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