# ML Wiki

## Inferential Statistics

It's a part of Statistics that, based on a small sample infers predictions about the population

• Descriptive Statistics is another part that just describes samples and doesn't infer anything about the general population

"Statistical Inference" is concerned mainly with assessing the quality of parameter estimates

• using some methods we estimate parameters and build statistical models from the sample
• and we want to know how good the estimates/models are

### Variability in Estimates

• We estimate the parameters based on sampled data
• So with different samples (from the same population) we get different estimates of the same parameter
• A one-number estimate of some population parameter is called Point Estimate
• The distribution of this parameter estimate is called Sampling Distribution
• and the measure of variability is called Standard Error

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