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Discuss the importance of descriptive statistics in business organisations?
Discuss the importance of descriptive statistics
What are five uses of statistics?
descriptive statistics
What are descriptive statistics and inferential statistics?
Descriptive statistics is a summary of data. Inferential statistics try to reach conclusion that extend beyond the immediate data alone.
What is descriptive mean?
descriptive statistics-quantitavely describe the main features of a collection of data. Descriptive statistics are distinguished from inferential.Statistics(or inductive statistics),in that descriptive statistics aim to summarize a data set,rather than use the data to learn about the population that the data are thought to represent.
Does descriptive statistics means parametric statistics?
No. Descriptive statistics are those that characterise samples without attempting to draw conclusions. The purpose of them is to help investigators to form an understanding of what the data might be capable of telling them. Descriptive statistics include graphs as well as measures of location, scale, correlation, and so on. Parametric statistics are those that are based on probabilistic models (ie, mathematical models involving probability) that involve parameters. For instance, an investigator might assume that her results have come from a population that is normally distributed with a certain mean and standard deviation; this would be a parametric model. She could estimate this pair of parameters, the mean and standard deviation, using parametric statistics, or test hypotheses about them, again using parametric statistics. In either case the parametric statistics she uses would be based on the parametric mathematical model she has chosen for her data.
