Discuss briefly the difference between descriptive and inferential statistics

What will be an ideal response?


The focus of descriptive statistics is on graphical and numerical procedures that are used to summarize and process data. Inferential statistics focuses on using the data to make predictions, forecasts and estimates to make better decisions.

Business

You might also like to view...

Given that z is a standard normal random variable, what is the probability that -2.08  z 1.46?  

A. 0.9091 B. 0.4812 C. 0.4279 D. 0.0533

Business

Adding the program unit name to the END statement that closes the procedure or function statements in the package body is mandatory.

Answer the following statement true (T) or false (F)

Business

When you use the direct organizational plan in a message refusing a small favor, you should

A) save the bad news for the final paragraph. B) present the bad news without any introduction. C) reciprocate to maintain the reader's future goodwill. D) use a polite buffer and explain your rationale in a few words. E) offer a brief, sincere apology in your first paragraph.

Business

An unconscionable contract is one that is so unfair and one sided that it would be unreasonable to enforce it

Indicate whether the statement is true or false

Business