This statistical method is inferential statistics, which makes inferences about a population based on a sample of the data.
In statistics, a population can include people, objects, events, or measurements.
The mean weight of an entire population of elephants is an example of a parameter. A parameter is a characteristic of a population.
A data professional is analyzing real estate data. To estimate the mean rent of all the apartments in a large city, they calculate the mean rent of a random sample of 100 apartments. Which of the following best describes this statistical method?
How confident are you in this answer?