GMAT Exam > GMAT Videos > Quantitative for GMAT > Introduction: Statistics
Introduction: Statistics Video Lecture | Quantitative for GMAT
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FAQs on Introduction: Statistics Video Lecture - Quantitative for GMAT
| 1. What is the importance of statistics in research? |  |
Ans. Statistics plays a crucial role in research by providing techniques to collect, analyze, interpret, and present data. It helps researchers make informed decisions, draw conclusions, and generalize their findings to a larger population.
| 2. How does statistics help in making predictions? | |
Ans. Statistics uses various predictive models and techniques to make predictions based on data analysis. These models, such as regression analysis and time series analysis, can identify patterns and relationships in data, allowing researchers to forecast future outcomes.
| 3. What are the different types of statistical data? | |
Ans. Statistical data can be broadly classified into two types: qualitative and quantitative. Qualitative data describes attributes, characteristics, or qualities and is typically non-numerical, such as gender or color. Quantitative data, on the other hand, consists of numerical measurements or counts, such as age or height.
| 4. How is statistical significance determined in research? | |
Ans. Statistical significance in research is determined by conducting hypothesis testing. This involves comparing observed data with expected results under a null hypothesis. If the observed data significantly deviates from the expected results, it indicates that there is a significant relationship or difference, allowing researchers to reject the null hypothesis.
| 5. What are the limitations of statistics in research? | |
Ans. While statistics is a valuable tool in research, it has certain limitations. Some of these limitations include the reliance on sample data, which may not perfectly represent the entire population, and the potential for biased or inaccurate data collection. Additionally, statistics cannot directly establish causation but can only identify correlations between variables.
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Nov 22, 2024 Last updated |
Video Description: Introduction: Statistics for GMAT 2024 is part of Quantitative for GMAT preparation.
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