This week's book giveaway is in the OCAJP 8 forum. We're giving away four copies of OCA Java SE 8 Programmer I Study Guide and have Edward Finegan & Robert Liguori on-line! See this thread for details.
Have you gone through the documentation of this class? API Demos package bundled with the SDK has plenty of examples that demonstrate the use of this class.
In a nutshell, this class is used to inflate XMLs that define Views and ViewGroups. Inflation is a process that includes: parsing of layout XMLs, creation of appropriate View objects and their addition to view hierarchy.