Differentiate descriptive statistics-inferential statistics


Questions:

1.Describe the difference between descriptive statistics and inferential statistics.

2.When would someone use a hypothesis test?

3.What is a test statistic and when would it be used?

4.When would you use a one tail test and when would you use a two-tailed test?

5.What is the critical region and how is it used to make statistical decisions?

6.What is the p-value and how is it used to make decisions?

7.For what kind of test would you use the Chi-Square table?

8.What does Alpha (α) represent and how is it used it in hypothesis testing?

9.How is a standard normal distribution different from a normal distribution that is not standard?

10.Explain the principle that the regression line formula uses to best represent the data in a scatter diagram.

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Microeconomics: Differentiate descriptive statistics-inferential statistics
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