01:960:285 Chapter Notes - Chapter 1: Statistical Inference, Simple Random Sample
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It involves collecting, classifying, summarizing, organizing, analyzing and interpreting numerical and categorical information. 1. 2 explain the difference between descriptive and inferential statistics. Descriptive statistics utilizes numerical and graphical methods to explore data (i. e. , to look for patterns in a data set, to summarize the information revealed in a data set, and to present the information in a convenient form. Inferential statistics utilizes sample data to make estimates, decisions, predictions, or other generalizations about a larger set of data. Difference identify pattern(s) of data and inferential takes data and makes inferences/assumptions about a larger data set of same population. 1. 6 explain the difference between quantitative and qualitative data. Quantitative data measurements that are recorded on a naturally occurring numerical scale. Qualitative measurements that cannot be measured on a natural numerical scale. They can only be classified into one of a group of categories. Population a set of units (usually people, objects, transactions, or events) that we are interested in studying.