From the course: Complete Guide to Generative AI for Data Analysis and Data Science

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Inferential statistics

Inferential statistics

From the course: Complete Guide to Generative AI for Data Analysis and Data Science

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Inferential statistics

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- [Instructor] Inferential statistics is a set of statistical techniques that we use to make inferences or draw conclusions about populations by looking at samples. And with inferential statistics, we test hypotheses and make predictions. Some key characteristics around inferential statistics is that we use samples to provide estimates for population parameters. Population parameters are variables or things or characteristics of an entire population. Now, when we make inferences from populations using samples, we have to account for sampling error, and inferential statistics takes that into account. Now, let's look at some terminology it's important we understand. Now, we've discussed population versus sample, but I just want to talk about this one more time. A population is an entire group, while a sample is a subset of that group. A parameter is a summary description of a population, whereas a statistic is a summary description of a sample. So, the two are related, but they are…

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