Inferential Statistics
Inferential statistics is a branch of statistics that allows us to make predictions or generalizations about a larger population based on a smaller sample of data. Instead of measuring an entire group, we collect data from a subset and use it to infer characteristics or trends of the whole. This involves estimating parameters, testing hypotheses, and making decisions based on the data. Techniques such as confidence intervals and significance tests help determine how reliable our conclusions are, guiding us in fields like science, business, and social research.
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Inferential statistics is a branch of statistics that allows us to make conclusions about a larger group (or population) based on a smaller sample of data. Instead of collecting data from every individual in a population, we gather information from a representative sample and use that data to estimate characteristics of the whole group. This process often involves calculating probabilities and confidence intervals to assess how reliable our conclusions are. In essence, it's about making educated guesses and predictions based on limited information.