Final answer:
Inferential statistics use statistics to make predictions about future events and to test hypotheses using examples like t-tests, based on sample data extrapolated to a larger population.
Step-by-step explanation:
The term that encapsulates analytics using statistics to judge the likelihood (probability) of a future event or outcome occurring is known as inferential statistics. Inferential statistics, also referred to as statistical inference or inductive statistics, involve the use of sample data to make inferences about a larger population. This field is fundamental in hypothesis testing, where a null hypothesis is evaluated against the alternative hypothesis through methods such as a t-test. An example includes estimating the proportion of defective products in a production line based on a sample of those products.