Q 1.2. - Elementary Statistics

Question

What are the two major types of statistics? Describe them in detail.

Step-by-Step Solution

Answer

In descriptive statistics collected data or information is organised and summarized.

And in inferential statistics, the results obtained from a sample of a population is generalized.

Step 1. Given information.

The given statement is:

What are the two major types of statistics? Describe them in detail.

Step 2. Write the two major types of statistics.

There are two major types of statistics named:

1. Descriptive statistics
2. Inferential statistics

Step 3. Describe Descriptive statistics.

Descriptive statistics include methods of organizing and summarizing information.

It includes the construction of charts, graphs, and tables.

It also includes the calculation of various descriptive measures like averages, measures of variation, and percentiles.

Step 4. Describe Inferential statistics

Inferential statistics includes those methods which generalizes the results collected from a sample of a population.

It also measures the reliability of the results.

In inferential statistics we can compare tests and we can also predict the future outcomes.

We uses different tools in inferential statistics like hypothesis tests, analysis of variance etc.