The descriptive statistics deals with prediction. The inductive and the deductive statistics basically deals with presumption. The inductive statistics is used in making predictions.
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y=a+bx+e sample regression model differentiate between y bar and E(Y)?
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Statistic is singular; statistics is plural. Statistic is a single data point. Statistics is the study of collections of related data points.
perameter is a measure of population or universe, statistic is a measure of a sample data drawn from population
statistic is a test used to test a hypothesis andestimation is finding the cost before it has been actually manufactured