Inferential Statistics — It’s all about accurate interference from sample.

Let’s draw inferences about the population data from sample data.

Introduction:

Many a times, we can only afford to collect data from samples, because it is too difficult or expensive to acquire data from the whole population that we are interested in.

While using descriptive statistics can only summarize a sample’s characteristics, but inferential statistics use our sample to make reasonable guesses about the larger population. This is called inference making and so it is popular by the name inferential statistics. While using inferential statistics, it’s important to use random and unbiased sampling methods.

Note:- If our sample isn’t representative of your population, then we can’t build right inference on the population.

That’s the complete game of Stats, Make a Guess on Sample and Make Predictions or Inferences about Population.

Its all about choosing the unbiased or best sample or small slice or chunk from population which best describes…