Inference, hypothesis testing
- In statistical inference, the goal is to
estimate a population quantity (from a sample)
- A point estimate is a single number that provides the best
estimate in some sense (the mean is 50.2)
- A confidence interval is a range of values that represents
an interval in which the value is likely to lie
- e.g., with 95% confidence, the mean falls between (50.1 and
50.3)