Statistical Inference

Inferential Statistics
Inferential statistics is the process of drawing information from sampled observations of a population and making conclusions about the population.
Null Hypothesis (H0)
In statistical hypothesis testing, the null hypothesis (H0) is the default or initial statement assumed to be true, often stating that there is no effect or no difference. The null hypothesis is only rejected if the evidence from the data significantly contradicts it.
Statistical Inference
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.
Statistics
Statistics is the study of ways to analyze data. It consists of Descriptive Statistics and Statistical Inference.

Accounting Terms Lexicon

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