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When should inferential statistics typically be used?
Inferential statistics uses data from a small group to make generalizations or inferences about a larger group of people. Inferential statistics should be used with "inferences".
Who are the people involved in the development of statistics?
Well statisticians are those that study statistics. Usually they are some kind of scientist because they make observations and experiments. Or they are mathematicians... For some of the people who have contributed to the development of statistics over the years - see related link.
Why do you learn statistics for finance?
In Finance, people learn statistics so that they can be able to carry out essential financial calculations such as trend predictions. Statistical calculations can let people make forecasts using current figures.
Why do people use a pie chart?
To show statistics, it was first used by Florence Nightingale to show the British government the statistics of the amount of hospital patients dying unnecessarily
What are the main branches of statistics?
The two main branches of statistics is Descriptive statistics and inferential statistics.
