Application of inferential statistics

Excel Statistics 60: Budget Income Statement (Probability) SUMPRODUCT function

In this video we discuss about the uses of statistics and probability(mean and standard deviation also) in demand and supply function by using MS excel as a tool for calculations, first we use past data which is in discrete form to calculate the mean, standard deviation and probability to make budget and income estimation for the next year. in this video the lecturer also describes how to use ms excel in business .how to calculate mean, standard deviation and after calculating all this, lecturer describes how to use it in a basic budgeting and making income statement.

Excel 2010 Statistics 14 Descriptive Inferential Statistics In this video we discuss about the descriptive statistics and inferential statistics. descriptive statistics is about the presentations of past data in form of tabular, graphical and numerical summaries of data and inferential statistic is about predicting or estimating the future results by using past data or sample information predicting the characteristics of a population or of a product. then lecturer describes in detail about the descriptive statistics and then inferential statistics that how to take sample and how to collect data and how to make inference about the data and estimates the result.