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Chapter: 12th Economics : Introduction to Statistical Methods and Econometrics

Types of Statistics

There are two major types of statistics named as Descriptive Statistics and Inferential Statistics.

Types of Statistics

There are two major types of statistics named as Descriptive Statistics and Inferential Statistics.


1. Descriptive Statistics

The branch of statistics devoted to the summarization and description of data is called Descriptive Statistics

2. Inferential Statistics

The branch of statistics concerned with using sample data to make an inference about a population of data is called Inferential Statistics.



Major differences between Descriptive Statistics and Inferential Statistics


Descriptive statistics

1. It describes the population under study.

2. It presents the data in a meaningful way through charts, diagrams, graphs, other than describing in words.

3. It gives the summary of data.

Inferential statistics

1. It draws conclusion for the population based on the sample result.

2. It uses hypotheses, testing and predicting on the basis of the outcome.

3. It tries to understand the population beyond the sample.


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