7 Types of Statistical Analysis_ Definition and Explanation.pdf

Commonly in many research run on groups of people

This preview shows page 3 - 6 out of 14 pages.

Commonly, in many research run on groups of people (such as marketing research for defining market segments ), are used both descriptive and inferential statistics to analyze results and come up with conclusions. Market research and analysis Business intelligence Data analysis Financial analysis and many other. 35 Data Scientist Qualifications And Skills Needed To Succeed Marketing Intelligence: Types, Definition, Examples 20 Top Marketing Intelligence Tools: Free and Paid Supervised vs Unsupervised Learning: Algorithms and Examples Best Ways to Learn Machine Learning 10 Key Types of Data Analysis Methods and Techniques Types of Graphs and Charts And Their Uses Data Driven Decision Making: Process and Model 6 Different Types of Data Every Data Scientist Must Know
Image of page 3

Subscribe to view the full document.

9/4/2018 7 Types of Statistical Analysis: Definition and Explanation 4/14 intellspot.com SIGN UP NOW What is descriptive and inferential statistics? What is the difference between them? Descriptive Type of Statistical Analysis As the name suggests, the descriptive statistic is used to describe! It describes the basic features of an information and shows or summarizes data in a rational way. Descriptive statistics is a study of quantitatively describing. This type of statistics draws in all of the data from a certain population ( a population is a whole group, it is every member of this group ) or a sample of it. Descriptive statistics can include the numbers, charts, tables, and graphs and present raw data. For example, if you have a data population that includes 30 workers in a business department, you can find the average of that data set for those 30 workers. However, you can’t discover what the eventual average is for all the workers in the whole company using just that data. Imagine, this company has 10 000 workers. Note: However, descriptive statistics do not allow making conclusions. You can not get conclusions and make generalizations that extend beyond the data at hand. With descriptive statistics, you can simply describe what is and what the data present. Subscribe to our mailing list and get interesting stuff and updates to your email inbox. Enter your email here We respect your privacy and take protecting it seriously. We will use your emails only to send you notifications for the new posts.
Image of page 4
9/4/2018 7 Types of Statistical Analysis: Definition and Explanation 5/14 Despite that, this type of statistics is very important because it allows us to show data in a meaningful way. It also can give us the ability to make a simple interpretation of the data. In addition, it helps us to simplify large amounts of data in a reasonable way. Inferential Type of Statistical Analysis As you see above, the main limitation of the descriptive statistics is that it only allows you to make summations about the objects or people that you have measured.
Image of page 5

Subscribe to view the full document.

Image of page 6

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern