Inferential Statistics Intro

Front

What is Inferential Statistics?

Back

Inferential Statistics is a branch of statistics that allows us to make inferences or generalizations about a population based on a sample of data.

Front

What is a confidence interval?

Back

A confidence interval is a range of values, derived from a data set, that is likely to contain the value of an unknown population parameter.

Front

What does a 90% confidence interval mean?

Back

A 90% confidence interval means that if we were to take 100 different samples and compute a confidence interval for each sample, then approximately 90 of the 100 confidence intervals will contain the true population parameter.

Front

What is a population in statistics?

Back

A population is the entire group of individuals or instances about whom we hope to learn.

Front

What is a sample in statistics?

Back

A sample is a subset of individuals selected from a larger population, used to estimate characteristics of the whole population.

Front

What is a parameter in statistics?

Back

A parameter is a numerical characteristic of a population, such as a mean or standard deviation.

Front

What is a statistic in statistics?

Back

A statistic is a numerical characteristic of a sample, used to estimate a population parameter.

Front

What is the margin of error?

Back

The margin of error is a measure of the uncertainty in a survey's results, indicating the range within which the true population parameter is expected to fall.

Front

How do you calculate a confidence interval?

Back

A confidence interval can be calculated using the formula: Sample Mean ± (Critical Value * Standard Error).

Front

What is a p-value?

Back

A p-value is the probability of obtaining the observed results, or more extreme results, when the null hypothesis is true.