Differences between descriptive and inferential statistics

Sample Solution

• Descriptive statistics are used to summarize data. They describe the data in a way that makes it easy to understand. For example, descriptive statistics can be used to calculate the mean, median, and mode of a set of data. They can also be used to create charts and graphs that visualize the data.
• Inferential statistics are used to make inferences about a population from a sample. They allow us to make predictions about the population based on the data from the sample. For example, inferential statistics can be used to determine if there is a statistically significant difference between the average attendance at Yankee Stadium for home games and away games.

Full Answer Section

Here is an example of how descriptive and inferential statistics could be used to analyze data from Yankee Stadium:

• Descriptive statistics could be used to calculate the average attendance at Yankee Stadium for the past 10 years. This would give us a general idea of how many people attend games at Yankee Stadium.
• Inferential statistics could be used to determine if there is a statistically significant difference between the average attendance at Yankee Stadium for home games and away games. This would tell us if there is a difference in the number of people who attend home games and away games.

As a consumer, I would be most interested in descriptive statistics. I would want to know how many people attend Yankee Stadium on average, and how the attendance has changed over time. This information would help me to decide if I want to go to a game at Yankee Stadium.

As a sport management professional, I would be most interested in inferential statistics. I would want to know if there is a difference in the number of people who attend home games and away games. This information would help me to make decisions about ticket pricing, marketing, and promotions.