example of inferential statistics you encounter in everyday life

Inferential statistics seek to infer whether the findings from a study can be applied to the larger population. [ In this course you will explore many of the underlying principles you need to understand before selecting and completing statistical tests. You are introduced to the principles of statistical analysis and you will have the opportunity to carry out relevant calculations.
Ex. Of 350

randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. [ An example of descriptive statistics is the following statement :
"80% of these people have the last name Nicolussi."
Ex. On the last 3 Sundays, Henry D. Carsalesman sold 2, 1, and 0 new cars respectively. An example of descriptive statistics is the following statement :
"Henry averaged 1 new car sold for the last 3 Sundays."
These are both descriptive statements because they can actually be verified from the information provided.
The second type of statistics in inferential statistics. This is a set of methods used to make a generalization, estimate, prediction or decision.
Ex. Of 350 randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. An example of inferential statistics is the following statement :
"80% of all people living in Italy have the last name Nicolussi."
] ]

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Asked 9/10/2010 3:59:39 AM

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what is law and equity

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Updated 9/10/2010 4:49:37 AM

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"Equity" may generally be defined as the correction of a defect or error in the law. This idea is apparently of ancient origin, tracing back at least as far as Aristotle, who defined equity as an exception to the rule where the lawgiver's pronouncement is defective and erroneous. There are a number of reasons why a law may be deemed "defective" or "erroneous."

Added 9/10/2010 4:49:37 AM

laws of probability

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Updated 9/10/2010 4:59:30 AM

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The law of probability is that the more possibilities and options you include, the lower the chances will be for a particular outcome to happen. The secret of success is focus, concentration, having a sense of certainty and clarity, and making a firm decision. Success is about narrowing down a field of possibilities in order to manifest a single choice.

Added 9/10/2010 4:59:30 AM

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