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Q: A: ### Quick Answer

**The two major types of statistics are descriptive statistics and inferential statistics.** Each of these statistical segments serves specific purposes, and they are used to accomplish different objectives.

Descriptive statistics is used to describe and summarize data. Numerical measures such as average, standard deviation and correlation are used to describe the features of a set of data. Inferential statistics studies a statistical sample and, through analysis, is able to say something about the population from which the sample came. Because it is difficult to examine each member of the population individually, a representative sample is used to make estimations, correlations and predictions using the data.

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## What is the x-bar in statistics?

A:

Full Answer >**In statistics, an x-bar indicates the average or mean value of the random variable "x."**A bar over any capital letter indicates the mean value of a random variable.Filed Under: - Q:
## What is a good idea for a statistics project?

A:A good idea for a statistics project would be to investigate the distributions of returns for different investments, and then construct and manage a model portfolio. Different asset classes such as money markets, bonds, equities and commodities could be compared.

Full Answer >Filed Under: - Q:
## What are some examples of descriptive statistics?

A:Descriptive statistics are statistics that describe the central tendency of the data, such as mean, median and mode averages. Variance in data, also known as a dispersion of the set of values, is another example of a descriptive statistics. Greater variance occurs when scores are more spread out from the mean. Descriptive statistics summarize data.

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## Why is sampling important?

A:

Full Answer >**Sampling, in statistics, is a method of answering questions that deal with large numbers of individuals by selecting a smaller subset of the population for study.**One of the most prevalent types of sampling is random sampling.Filed Under:

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