Statistical Inference
Subject: Business Statistics | Topics:

Statistical Inference means drawing conclusions based on data. There are many contexts in which inference is desirable, and there are many approaches to performing inference. It is the process of deducing properties of an underlying distribution by analysis of data. Statistical Inference is Bayesian estimation, which incorporates reasonable expectations or prior judgments, as well as new observations or experimental results. It make propositions about a population, using data drawn from the population with some form of sampling.

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