The process of developing likely estimates of future values based on historical data is called ________.
A)predictive statistics
B)statistical inference
C)descriptive statistics
D)information gathering

Question

Quizplus · Accepted Answer

Predictive statistics involves using historical data to make estimates or predictions about future values. Statistical inference is a broader term that includes both descriptive and predictive statistics, but it specifically refers to using sample data to make inferences or generalizations about a larger population. Descriptive statistics simply describe or summarize data, while information gathering involves collecting and compiling data.

The Process of Developing Likely Estimates of Future Values Based