In your own words, differentiate the following statistical terminologies with some examples.

Population Parameter and Sample Statistic
Descriptive Statistics and Inferential Statistics
Nominal Scale and Ordinal Scale

Primary Data Source and Secondary Data Source

Expert Solution

a)Population Parameter and Sample Statistic

Parameter: It sumarise all the data of an entire population.It is the fixed value but in practical hard to compute

Statistic: It is used to estimate the parameter value changes from sample to sample

b) Descriptive Statistics and Inferential Statistics

Descriptive statistic:It is concerned with the target population.Organise,analyse and present data in meaningful manner

Inferential Statistics: Make inferences from sample and generalise to population

Tools: Hypothesis testing

c) Nominal Scale and Ordinal Scale

Nominal Scale: These variable have no inferent order or ranking sequence

Example: Name

Ordinal Scale: Variable with order series

example:ratings,ranking in class

Primary Data Source and Secondary Data Source

Primary: Real time data,sure about source of data

Secondary: These are past data,Not sure about their sources

orchestra answered 1 year ago

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