Quantitative Techniques
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26-10-2010, 05:52 PM

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Quantitative Techniques

Name of the Faculty :
Dr RS Rai, Assistant Professor


In the earlier lectures we introduced graphical and numerical descriptive methods. Although the methods are useful on their own, we are particularly interested in developing statistical inference. As we pointed out in module 1, statistical inference is the process by which we acquire information about populations from samples. A critical component of inference is probability because it provides the link between the population and the sample. . Our primary objective in this and the following two chapters is to develop the probability-based tools that are at the basis of statistical inference. However, probability can also play a critical role in decision making, a subject we explore in module 6.


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