After reading this chapter, you should be able to

• „„Define inferential statistics.
   
• „„Explain the difference between a sample and a population.
   
• „„Explain the difference between a statistic and a parameter.
   
• „„Recognize the symbols used for the mean, variance, standard deviation, correlation coefficient, proportion, and regression coefficient.
   
• „„Provide the definition of sampling distribution.
   
• „„Compare and contrast point estimation and interval estimation.
   
• „„Explain how confidence intervals work over repeated sampling.
   
• „„List and explain the steps in hypothesis testing.
   
• „„Explain the difference between the null hypothesis and the alternative hypothesis.