Question

What is it called when you make predictions within given data?

Answer 1

Making predictions within given data is a part of inferential statistics, which allows us to infer properties of a population through sample data, using tools such as predictive modeling.

Step-by-step explanation:

What is it called when you make predictions within given data? This process is often referred to as inferential statistics, which is a branch of statistics that uses a sample of data to make generalizations about a larger population. When making predictions, we often rely on probability to forecast specific outcomes. In particular, predictive modeling might be used, which involves using statistical models to make predictions.

For example, based on the correlation coefficient and the line of best fit, one can employ the least-squares regression line within inferential statistics to make predictions about data. If the prediction format is 'If... then...', we are discussing a scientific prediction based on a hypothesis which can be tested in the empirical world. However, it is crucial to acknowledge that while predictions can be made with certain levels of confidence, they are not always exact due to the variability and complexities of real-world phenomena.

Answer 2

When a researcher uses given data to make a prediction, this is known as a hypothesis. The hypothesis generally serves as a starting point for future research, allowing a researcher to further develop their theory through additional testing, observation, and, if necessary, revision to the current hypothesis.