What is a key difference between parametric and non-parametric statistical methods?
- The amount of data they can handle
- The assumptions they make about the data distribution
- The speed at which they analyze data
- The type of variables they can analyze
The key difference between parametric and non-parametric statistical methods is the assumptions they make about the data distribution. Parametric methods assume that the data follow a certain distribution, while non-parametric methods do not make these assumptions.
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