Question: The main difference between descriptive and inferential statistics lies in their purposes and the methods they use. According to Bobbitt (2020), descriptive statistics aims to

The main difference between descriptive and inferential statistics lies in their purposes and the methods they use. According to Bobbitt (2020), descriptive statistics aims to describe a good amount of raw data using summary statistics, graphs, and tables. The purpose of descriptive statistics summarizes, organizes, and present data in a meaningful way. Descriptive statistics also include measures such as mean, median, mode, standard deviation, variance, and visualizations like charts and graphs. For example, calculating the average test score of a class or creating a pie chart showing the distribution of favorite colors. Test Scores: 98, 90, 87, 81, 81, 72, 70, 69, and 65 Mean: 98+90+87+81+81+72+70+69+65=713; 713/9=79.2 is the average Median:81 is the median Mode:81 is the mode (most frequent number) According to Bobbitt (2020), inferential statistics uses a small sample of data to draw inferences about the larger population that the sample came from. The purpose of inferential statistics makes predictions, generalizations, or inferences about a larger population based on a sample. Inferential statistics includes hypothesis testing, confidence intervals, regression analysis, and significance testing. For example, estimating the average income of all residents in a city based on a survey of 1,000 people. can you help me reply to this discussion

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!