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1. TRUE OR FALSE: Predicting and estimating are the two primary uses of inferential statistics.

1. TRUE OR FALSE: Predicting and estimating are the two primary uses of inferential statistics.

Math   Statistics-And-Probability   
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Answer #1

Correct option:

True

Explanation:

In Inferential Statistics, through methods such as Bayasian Techniques, Markovian Models etc., the statistician is able to predict with certain confidence level the outcome of an experimentation based on the past data available data on the various systems of the model under consideration.

In Inferential statistics, through methods such as Hypothesis Testing and Confidence Interval, the statistician is able o estimate the population parameters based on limited data on the samples with a confidence level.

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