Inferential Statistics
Inferential Statistics makes inferences and predictions about the population based on a sample of data taken from the population. It generalizes a large dataset and applies probabilities to draw a conclusion.
It is simply used for explaining the meaning of descriptive stats. It is simply used to analyze, interpret results, and draw conclusions. Inferential Statistics is mainly related to and associated with hypothesis testing whose main target is to reject the null hypothesis.
Introduction of Statistics and its Types
Statistics and its Types: Statistics is a branch of math focused on collecting, organizing, and understanding numerical data. It involves analyzing and interpreting data to solve real-life problems, using various quantitative models. Some view statistics as a separate scientific discipline rather than just a branch of math. It simplifies complex tasks and offers clear insights into regular activities. Statistics finds applications in diverse fields like weather forecasting, stock market analysis, insurance, betting, and data science.
In this article, we will learn about, What is Statistics, Types of Statistics, Models of Statistics, Statistics Examples, and others in detail.
Table of Content
- What are Statistics?
- Types of Statistics
- Descriptive Statistics
- Inferential Statistics
- Hypothesis Testing
- Data in Statistics
- Representation of Data
- Models of Statistics
- Data Analysis
- Types of Data Analysis
- Coefficient of Variation
- Applications of Statistics
- Business Statistics
- Scope of Statistics
- Limitations of Statistics
- Solved Problems – Statistics
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