Descriptive and Inferential Statistics – Real Life examples

Define the two Branches of Statistical Methods? How could you use descriptive statisticsin your personal life?

The two branches of statistical methods are descriptive statistics and inferential statistics. Descriptive statistics is very useful in personal life. Suppose we want to see the average expenditure on different items such as food, clothes, electricity, fuel etc in a month. We can find the overall expenditure for a month …

This solution is comprised of a detailed explanation of Descriptive and Inferential Statistics. This solution mainly discusses the Descriptive Statistics with real life examples. The solution provides real life examples in which descriptive statistics is useful.