Statistics play an integral part in every industry and field in today’s age. Whether its science, business, finance, economics or academic research, statistics are used to evaluate, rate and assess the data. It is considered one of the toughest subjects and statistics students face a lot of difficulties in understanding the concepts and methods of this subject. They also feel stressed and burdened due to the lack of proper guidance. Because of this, they offer get nervous and are confused about what to do when they are given statistics assignments.
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Descriptive statistics includes the short descriptive coefficients that are used for summarising the characteristics of the data set that is the entire population for a small sample taken from it. Descriptive statistics include measures of central tendency like mean, mode and median and the variability measures that are used to analyse how far the data point lie away from the centre.
The inferential statistics include the set of assumptions made on the basis of the results obtained from the descriptive statistics. Some of the common tests of inferential statistics include regression analysis, Analysis of variance (ANOVA), Statistical significance (t-test) and Analysis of covariance (ANCOVA).
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