Q.Mention two branches of Statistical Inference.

Statistical inference has two branches: estimation of parameters and testing of hypotheses.

Statistical inference is the process of drawing conclusions about a population on the basis of a sample. In the Tamil Nadu HSC Business Statistics syllabus it is divided into two branches:

1. Estimation (Theory of Estimation). Estimating unknown population parameters (such as the mean $\mu$ or proportion $P$) from sample statistics. It is of two kinds — point estimation (a single value) and interval estimation (a confidence interval). …