Question

What is the difference between a descriptive statistic and an inferential statistic? please answer in 3-4v sentences for a thumbs up

Answer 1

Descriptive Statistics involves describing the data in terms of summarized forms such as mean, median and mode, standard deviation, skewness, moments etc. The objective is to get a detailed analysis of the data to form a clear picture about the way the data looks.

Inferential Statistics involves prediction of unknown parameter values and performing hypothesis testing of claims about population parameters with the help of sample data. Basically, suitable statistics are calculated using sample values and then these sample statistics are used to either predict the parameters or test some hyposthesis about the population parameters.