Now that's true for those five trees, but it might not be in effect-almost certainly will not be-exactly true for the entire grove of 100 trees. You see that the percentages are green is 67%, and black is 33%. You have 21,000 olives, of which 14,070 are green and 6,930 are black. You take a sample from five of those trees. So, for example, let's say that you have a grove of 100 olive trees. For inferential statistics, you take information from part of your population and extrapolate it to make guesses about your entire population. In this case, the green olives are 75% of the total, and the black olives are 25% of the total. Then you can find the number of green, olives 3,000, the number of black olives, which are 1,000, and then find the proportion. For example, if you examine the olives on a tree, you can count the number of olives, in this case 4,000. You use descriptive statistics when you know all of the values in a dataset. There are two major branches of statistics, descriptive statistics and inferential statistics. Statistics is the practice of collecting, analyzing, and interpreting data. You can use statistical methods to analyze your data to support that work. Numbers are everywhere, especially in business where your company's health and future depend on your ability to make good decisions.
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