What is mathematical induction, or rather, proof by induction?

I am reading about it, in a way I understand what I am supposed to do with the numbers but I do not understand what this proof is supposed to do.

Answer #1

It is based on the principle that if one statement is true then the next statement is also true and so on till the infinite series of statement. By this you can prove that a particular function or series of statements is true and hence a formula can be generated. This will be better understood by practice.

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