Commerce Exam  >  Commerce Questions  >  Mention two features of a statistical stateme... Start Learning for Free
Mention two features of a statistical statement?

answer for 3/4 marks?
Most Upvoted Answer
Mention two features of a statistical statement?answer for 3/4 marks?
The features of Statistical Statement are that
it gives the definite information and
gives the data of specific period.

Thank You.
Community Answer
Mention two features of a statistical statement?answer for 3/4 marks?
Features of a Statistical Statement:

A statistical statement is a claim or assertion about a population or a sample based on data analysis. It provides information about a particular characteristic or relationship within a given population. Here are two key features of a statistical statement:

1. Quantitative Information:
A statistical statement provides quantitative information about a population or a sample. It presents numerical data that can be measured, counted, or compared. This quantitative information allows researchers and statisticians to analyze and interpret the data objectively. Some examples of quantitative information in statistical statements include means, medians, percentages, standard deviations, and correlation coefficients.

Quantitative information in a statistical statement is essential because it allows for precise comparisons and enables decision-making based on evidence. It helps in understanding the magnitude, direction, and significance of the results obtained from data analysis. Without quantitative information, statistical statements would lack the necessary precision and clarity required for making informed decisions.

2. Measure of Uncertainty:
Another crucial feature of a statistical statement is that it incorporates a measure of uncertainty. Statistical analysis acknowledges that any conclusion drawn from a sample may not perfectly represent the entire population. Therefore, statistical statements often include measures such as confidence intervals or p-values to quantify the level of uncertainty associated with the results.

Confidence intervals: These provide a range of values within which the true population parameter is likely to fall. For example, a 95% confidence interval for the mean height of a population might be stated as "The mean height is estimated to be between 165 cm and 170 cm with 95% confidence." This indicates that if the same study were repeated multiple times, 95% of the confidence intervals would capture the true population mean.

p-values: These measure the strength of evidence against the null hypothesis. A small p-value (e.g., p < 0.05)="" suggests="" that="" the="" observed="" results="" are="" unlikely="" to="" occur="" by="" chance="" alone,="" leading="" to="" the="" rejection="" of="" the="" null="" hypothesis="" in="" favor="" of="" an="" alternative="" hypothesis.="" this="" provides="" an="" indication="" of="" the="" statistical="" significance="" of="" the="" />

Including a measure of uncertainty in statistical statements helps to convey the reliability and generalizability of the results. It acknowledges that there is always some degree of uncertainty associated with statistical inference and encourages researchers to consider the limitations and potential sources of error in their analyses.

In summary, a statistical statement provides quantitative information about a population or sample and incorporates measures of uncertainty to account for the variability and limitations of the data. These features allow researchers and decision-makers to make informed judgments based on evidence and to assess the reliability and significance of the statistical findings.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
Explore Courses for Commerce exam

Top Courses for Commerce

Mention two features of a statistical statement?answer for 3/4 marks?
Question Description
Mention two features of a statistical statement?answer for 3/4 marks? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Mention two features of a statistical statement?answer for 3/4 marks? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mention two features of a statistical statement?answer for 3/4 marks?.
Solutions for Mention two features of a statistical statement?answer for 3/4 marks? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Mention two features of a statistical statement?answer for 3/4 marks? defined & explained in the simplest way possible. Besides giving the explanation of Mention two features of a statistical statement?answer for 3/4 marks?, a detailed solution for Mention two features of a statistical statement?answer for 3/4 marks? has been provided alongside types of Mention two features of a statistical statement?answer for 3/4 marks? theory, EduRev gives you an ample number of questions to practice Mention two features of a statistical statement?answer for 3/4 marks? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev