Statistics and Probability Act. 1

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11HUMSS2301 

 March 27, 2024

Statistics and Probability [SCSTPRB]


What is the goal of statistics and probability?

The fundamental goal of statistics and probability is to allow informed decision-making in the presence of uncertainty. Through the study of probability, we quantify the likelihood of various outcomes, providing a mathematical foundation for predicting events and assessing risk.

What is the difference between descriptive and inferential statistics?

In the realm of statistics, it is crucial to understand that descriptive and inferential statistics serve different purposes within data analysis. Descriptive statistics are employed to succinctly summarize and describe the features of dataset, providing a detailed image of the data through measures such as mean, media, mode, and standard deviation. This form of statistical analysis focuses on presenting the 'what' of data characteristics with clear, concrete figures. Conversely, inferential statistics are concerned with 'why' the data appears as it does, aiming to draw conclusions that extend beyond the immediate dataset.

Give three (3) examples of discrete and continuous variables

Discrete

a. Number of children in a family

b. Books read in a year

c. Number of transferees each year

Continuous

a. Temperature on a summer day

b. Amount of sugar in a cup of coffee

c. The height of students each year in a school 

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