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Inferential statistics is basically just a method of making a sort of prediction, generalization or like an estimate of something. So an example of it would be like saying "About 80% of the people living in the US have the last name of Smith, as is deduced by the information given."
Why are measures of variability essential to inferential statistics?
Parametric and non-parametric statistics.Another division is descriptive and inferential statistics.Descriptive and Inferential statistics. Descriptive statistics describes a population (e.g. mean, median, variance, standard deviation, percentages). Inferential infers some information about a population (e.g. hypothesis testing, confidence intervals, ANOVA).
Using an inappropriate model is a classic example in the modelling phase. If you get that wrong, everything that follows is a waste of time.
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