What is the process of using sample data to make estimates about a larger population called?

The process of using sample data to make estimates about a larger population is known as inferential statistics. This branch of statistics enables analysts to draw conclusions about a population based on information gathered from a sample, which is often more practical and feasible than attempting to collect data from the entire population.

Inferential statistics involves techniques such as hypothesis testing, confidence intervals, and regression analysis, which allow for making predictions or generalizations about a population's characteristics while accounting for variability and uncertainty. By applying these methods, researchers can make informed decisions and assessments based on limited data, ultimately saving time and resources.

In contrast, descriptive statistics focuses on summarizing and describing the features of a dataset without making predictions or inferences about a larger population. Data dumping refers to the practice of exporting a large amount of data without analysis or interpretation, and an informed decision involves using gathered data and insights for decision-making rather than focusing specifically on the statistical methods of estimation.