STATISTICAL INFERENCE ASSIGNMENT HELP

In statistics, the process of drawing conclusions from data that are subject to random variation is called Statistical Inference. More specifically, the process of statistical inference are used in illustrating various structures or procedures which are applying for making suitable conclusions/interpretations from a dataset obtained from systems affected by random variation.

The random variation includes observational errors, random sampling, or random experimentation. Various systems of procedures are available for inference and induction. Initial requirements of this system are to produce a sensible conclusion/answer when it is applied to a particular situation. In addition, the result/conclusion/answers obtained for such a well-defined situation should be general enough to be applied for various situations. Inferential Statistics are widely used in testing hypotheses and also for making estimations based on sample data.

Statistical inference is suitable for many situations to make desirable conclusions from the corresponding dataset and many approaches are available to perform such inference. There are many tools available for the Estimation of Parameters, where the most straightforward and easiest method to understand is "Likelihood Ratios".