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Statistical inference Statistical inference is the process of using statistical methods to make conclusions or decisions about a population, based on data from a sample. Three Types of Statistical Inference: 1. Estimation: Estimating population parameters (e.g., mean, proportion) from sample data. Example: Estimating the average height of a population based on a sample of 100 people. 1. *Hypothesis Testing*: Testing hypotheses about population parameters based on sample data. Example: Testing whether a new medicine is effective in curing a disease. 1. Confidence Intervals: Constructing intervals to estimate population parameters with a certain level of confidence. Example: Constructing a 95% confidence interval for the average IQ score of a population. #dataanalysis #timeseriesforecating #statistical_inference #spss
