Data scientists interested in inferring the value of a population truth or parameter such as a population mean or a population proportion turn to inferential statistics. Inferential statistics provides methods for generating predictive forecasting models , and this allows data scientists to generate predictions and trends to assist in effective and accurate decision-making.

A data scientist is often interested in making generalizations about a population based on the characteristics derived from a sample; inferential statistics allows a data scientist to draw conclusions about a… In addition, inferential statistics is used by data scientists to assess model performance and compare different algorithms in machine learning application.

inferential statistics — statistical methods that allow researchers to infer or generalize observations from samples to the larger population from which they were selected. regression analysis — a statistical technique used to model the relationship between a dependent variable and one or more independent variables. bootstrapping — a method to construct a confidence interval that is based on repeated sampling and does not rely on any assumptions regarding the underlying distribution. confidence interval — an interval where sample data is used to provide an estimate for a population parameter.

Be able to determine the correct distribution to be used to analyze the hypothesis test (e.g., normal distribution or t-distribution); determine if the hypothesis test involves a claim for a population mean or population proportion. If the hypothesis test involves a population mean, use…; calculate the correlation coefficient.