The process of estimating the value of a property, often required for various financial, legal, and business purposes.
A confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter. The interval has an associated confidence level that quantifies the level of confidence that the parameter lies within the interval.
Extrapolation involves estimating unknown values by extending or projecting trends or patterns observed in existing data beyond the known data set.
Estimating unknown quantities that lie between two of a series of known values. Interpolation is a statistical method often used in various fields including finance, science, and engineering.
Statistical inference is the process of drawing conclusions about population properties based on a sample of the data. It involves using statistical methods to estimate population parameters, test hypotheses, and make predictions or generalizations.
