Write a 2000 words essay and compare the difference between descriptive analysis and regression model – how they respond to the need for strategy suggestions – how do you retrieve the population behavior?
Difference between Descriptive and Inferential Statistics
Descriptive and inferential statistics are two broad categories in the field of statistics. In this blog post, I show you how both types of statistics are important for different purposes. Interestingly, some of the statistical measures are similar, but the goals and methodologies are very different.
Descriptive Statistics
Use descriptive statistics to summarize and graph the data for a group that you choose. This process allows you to understand that specific set of observations.
Descriptive statistics describe a sample. That’s pretty straightforward. You simply take a group that you’re interested in, record data about the group members, and then use summary statistics and graphs to present the group properties. With descriptive statistics, there is no uncertainty because you are describing only the people or items that you actually measure. You’re not trying to infer properties about a larger population.
The process involves taking a potentially large number of data points in the sample and reducing them down to a few meaningful summary values and graphs. This procedure allows us to gain more insights and visualize the data than simply pouring through row upon row of raw numbers!
Common tools of descriptive statistics
Descriptive statistics frequently use the following statistical measures to describe groups:
Central tendency: Use the mean or the median to locate the center of the dataset. This measure tells you where most values fall.
Dispersion: How far out from the center do the data extend? You can use the range or standard deviation to measure the dispersion. A low dispersion indicates that the values cluster more tightly around the center. Higher dispersion signifies that data points fall further away from the center. We can also graph the frequency distribution.
Skewness: The measure tells you whether the distribution of values is symmetric or skewed.
