NAME: ERILIBE ELIEL OGHENETEGA

MATRIC NUMBER: 19/1339

DEPARTMENT: ACCOUNTING
COURSE: STATSTCS FOR MANAGEMENT II
ASSIGNMENT: 1) WRITE ON PARAMETRIC AND NON
PARAMETRIC DATA ANALYSIS TECHNIQUES.
2) WRITE ON PROBABILITY DISTRIBUTIONS
AND THE TYPES OF PROBABILITY DISTRIBUTIONS.

PARAMETRIC DATA ANALYSIS

 Parametric analysis is a branch of inferential statistics wherein one obtains a
sample from a population in order to estimate population parameters e.g. mean and
investigate relationships between the estimated parameters. Because this estimation
process involves a sample, a sampling distribution and a population, certain
parametric assumptions are required to ensure all components are compatible with
each other. Parametric analysis refers to a specific approach to data analysis where
the research bases the validity of the statistical model on the tenability of its
assumptions.
Suppose that we have a sample of 99 test scores with a mean of 100 and a
standard deviation of 1. If we all assume all 99 test scores are random observations
from a normal distribution, the we predict there is a 1% chance that the 100 th test
score will be higher that 103.23 assuming that the 100th test score comes from the
same distribution as the others. Parametric statistical methods are used to compute
the 2.33 value above, given 99 independent observations from the same normal
distribution.
NON PARAMETRIC DATA ANALYSIS
Non parametric analysis statistics refers to a statistical method in which the data
are not assumed to come from prescribed models that are determined by a small
number of parameters, examples of such models include the normal distribution
models. Nonparametric statistics sometimes uses data that is ordinal, meaning it
does not rely on numbers, but rather on a ranking or order of sorts. for example, a
survey conveying consumer preferences ranging from like to dislike would be
considered ordinal data.

PROBABILITY DISRIBUTION
A probability distribution is a mathematical function that describes the probability
of different possible values of a variable. Probability distribution is often depicted
using graphs or probability tables.
TYPES OF PROBABILITY DISTRIBUTION
DISCRETE PROBABILITY DISTRIBUTION: discrete probability distributions
only include the probabilities of values that are possible. In other words, a discrete
probability distribution doesn’t include any values with a probability of zero. For
example, a probability distribution of dice rolls doesn’t include 2.5 since it’s not a
possible outcome of dice rolls.
CONTINUOUS PROBABILITY DISTRIBUTIONS: A continuous variable can
have any values. Therefore, continuous probability distributions include every
number in the variable’s range. The probability that a continuous variable will have
any specific value is so infinitesimally small that it’s considered to have a
probability of zero. However, the probability that a value will fall within a certain
interval of values within its range is greater that zero.