Question

Post an example of Inferential Statistics

Answer 1

Inferential statistics help in making predictions from the data. With the help of inferential statistics if we take data from samples than we can make a generalization about populations.

For example

1) If you hare working in a bank( Write any bank name if you want for example Chase Bank) and the manager asked you to examine how the people feel about their bank services?

Now it is not practical to ask every people about their opinion regarding bank services. So, you can take small number of people and draw the inferences about the entire people of that bank.

The mathematical procedure where we convert the sample into intelligent guesses about the population fall under inferential statistics.

If there is any word limit let me know I will make changes accordingly.

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