Difference Between Descriptive and Inferential Statistics – Business Statistics

stat

 

Reference Notes
Difference between Descriptive Statistics and Inferential Statistics | Business Statistics

Statistics is the art of collecting, analyzing, presenting and interpreting data.

 

Statistics is sub-divided into two categories:

  1. Descriptive Statistics
  2. Inferential Statistics

Descriptive Statistics gives description or we can say it focuses on collection, presentation and characterization about a sample. Inferential Statistics helps to predict and estimate the possible characteristics of the population from the sample data drawn from the population.

S.n

Descriptive Statistics

Inferential Statistics

1.

Descriptive Statistics gives description or we can say it focuses on collection, presentation and characterization about a sample.

Inferential Statistics helps to predict and estimate the possible characteristics of the population from the sample data drawn from the population.

2.

Descriptive Statistics only describes some certain characteristics of the data.

Inferential Statistics deeply analyzes the statistical data and observations.

3.

Descriptive Statistics helps in dealing with the central tendency and spread of the frequency distribution.

Inferential Statistics helps in studying details about the hypothesis test and confidence level.

4.

Descriptive Statistics can be measured either numerically (mean, median, mode) or graphically.

Inferential Statistics cannot be always measured in exact numbers.

5.

Descriptive Statistics helps to produce error free results as it deals with the small population.

Inferential Statistics may not produce error free results as it takes whole population for drawing conclusion.

6.

Drawing conclusion in descriptive statistics is limited within the given data i.e. we cannot make conclusions beyond the given data.

Drawing conclusion in Inferential  statistics is unlimited i.e. the educated predictions and guesses can be made on the basis of the parameters of the given population.

7.

Examples:

  •  Information in newspapers, magazines, company reports, etc.
  •  Frequency of the variables.
  •  Population of the particular country.

Examples:

  •  Grades or percentile of the scores.
  • Average score in cricket.
  • Prediction about cancer by the doctor.

 

Source: Business Statistics(Buddha Publication,Asmita Publication)

Authors: P.R Jgoshi ,Surendra R. Nepal, Pravat Uprety, Rajesh K. Thagurathi, Bal K. Khadka, Nirajan Bam

(Visited 612 times, 1 visits today)

Posted By : smriti | Comment RSS. Category : Business Statistics
Tag :

Post a Comment

You must be logged in to post a comment.

Technical Support By: MeroSpark | Founder/Chief Content Manager : Smriti Bam