In your own words, describe the concept of how statistics may vary?

Solutions

Expert Solution

Statistics is used to draw inference about the population based on the sample data. It includes different mathematical models as well as different real-life studies and experiments. Not only this, statistic can be used to analyse the data for making conclusion about the study.

Statistics is broadly divided into two parts, descriptive statistics and inferential statistics.

Descriptive statistics can be used to explain basic characteristics of the data under the study or survey. It provides both quantitative and qualitative analysis of the data. Moreover, it helps in analyzing the data, making decisions and conclusions about the data as well as the study.

Inferential statistics can be used to infer about the population parameter based on the sample data that is collected during the study. Moreover, in inferential statistics, the sample statistic is calculated based on the randomly selected data and the computed value of the sample statistic is used to draw inference about the population.

But, one of the main limitation of statistics is the misuse of it. Improper use of the statistical tools can cause wrong and misleading result.

orchestra answered 1 year ago

Next > < Previous

Related Solutions

In your own words, briefly describe how and why the size of motor units vary in...

In your own words, briefly describe how and why the size of motor units vary in muscles which require strength vs. muscles which require precision.

In your own words, describe NAT and the concept of a firewall and how they work.

a) Can you describe in your own words any statistics on the either the number or...

a) Can you describe in your own words any statistics on the either the number or percentage of companies that offer 401(k) plans to their workers? Look for recent figures as well as changes over time. Find an article.

Describe the term "economies of scale" in your own words. Is this a short-run concept or...

Describe the term "economies of scale" in your own words. Is this a short-run concept or a long-run concept; why?

In your own words, explain the concept of “educare”. Describe the main principles, caregiving strategies, and...

In your own words, explain the concept of “educare”. Describe the main principles, caregiving strategies, and benefits for children, families, and educarers. Provide specific examples from the videos to support your comments. Do you agree with this approach, why or why not? How does this approach connect to developmentally appropriate practice?

1- What is the concept of sustainable income? Please describe it in your own words. Can...

1- What is the concept of sustainable income? Please describe it in your own words. Can you give an example of what this number may look like by using the income statement of a real-life company? 2-There are different tools for analyzing the financial statements of a company, such as horizontal analysis, vertical analysis, ratios for measuring financial health and profitability, and so forth. Before we begin using these tools, however, it is important to know the purpose of each...

1. Describe in your own words the structure of DNA. 2. Describe in your own words...

1. Describe in your own words the structure of DNA. 2. Describe in your own words how DNA makes copies of itself. (I.e. Describe DNA replication.). Protein synthesis involves two processes, transcription and translation. Describe in your own words how each process occurs. Transcription Translation

Question