Inferential Statistics: Making Informed Decisions with Sample Data to Draw Conclusions About Populations

inferential statistics

the branch of statistics that involves using a sample to draw conclusions about a population

Inferential statistics is a branch of statistics that deals with making inferences about a population based on a sample data. It involves using sample data to draw conclusions about a larger population. The main objective of inferential statistics is to determine whether there is a significant difference between a sample group and the population as a whole, and if so, what the nature of that difference might be.

Inferential statistics involves the use of statistical methods such as hypothesis testing, confidence intervals, and regression analysis to analyze sampled data and draw conclusions about a population. It aids researchers and analysts in determining whether the results of their study are statistically significant, and how much confidence they can have in their findings.

The steps involved in inferential statistics include:

1. Define the population that is being studied
2. Select a sample from the population
3. Collect data from the sample
4. Analyze the data
5. Draw conclusions about the population

Inferential statistics is widely used in a variety of fields including social sciences, medicine, business, and engineering. It provides a powerful tool for decision-makers to make informed decisions based on empirical data, rather than intuition or subjective judgments.

More Answers: