Traditional statistics of Data (descriptive and inferential)
Traditional statistics of Data Traditional statistics is made up of descriptive and inferential statistics. Let’s explore the difference between descriptive statistics and inferential statistics. Descriptive Statistics: Descriptive statistic s involves the summarization and presentation of data in a meaningful way. It provides insights into the characteristics of a dataset without making inferences beyond the data itself. Common measures used in descriptive statistics include: Measures of central tendency: Mean, median, and mode, which represent the central or typical value of a dataset. Measures of dispersion: Range, variance, and standard deviation, which quantify the spread or variability of data points. Measures of shape: Skewness and kurtosis, which describe the symmetry and peakedness of a distribution, respectively. Frequency distributions: Tables, histograms, and bar charts, which display the frequency or relative frequency of values within a dataset. Graphs:...