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Name: What is the important concept in inferential statistics? Explain it.
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Description: What is the important concept in inferential statistics? Explain it.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.7: Probability

Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...

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What is the important concept in inferential statistics? Explain it.

Statistics that allow for inferences or estimates about the population. Inferential statistics enable analysts come to conclusions about the population based on sample data. Inferential statistics cover the basics of inferential statistics, all kinds of hypotheses tests and their confidence intervals, design of experiments, and statistical power and errors. It also includes point estimation techniques, limit theorems, sampling distributions, approximations, and bounds. Correlation, regression, and association are also covered under inferential statistics to infer relationships between variables.

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