Traditional Statistics (Descriptive and Inferential)

Here you have a quick view of traditional statistics, encompassing descriptive and inferential statistics that are fundamental tools for analysing and interpreting data. Descriptive statistics summarize and describe the main features of a dataset, including measures of central tendency (such as mean, median, and mode) and measures of dispersion (such as range, variance, and standard deviation), these statistics provide insights into the characteristics and distribution of the data.

In contrast, inferential statistics involve making inferences and predictions about a population based on sample data and this includes hypothesis testing, where statistical tests are used to determine if there is a significant difference or relationship between variables. Additionally, inferential statistics include estimation techniques, such as confidence intervals, which provide a range of plausible values for population parameters.

 

Together, descriptive and inferential statistics form the foundation of statistical analysis, allowing researchers and analysts to draw meaningful conclusions from data and make informed decisions in various fields, including science, business, and social sciences.

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