Parameter vs Statistic

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What is a parameter?

Back

A parameter is a numerical value that summarizes a characteristic of a population.

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What is a statistic?

Back

A statistic is a numerical value that summarizes a characteristic of a sample.

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Example of a parameter:

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The percentage of all people who bought a musician's last album that thought the songs were good.

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Example of a statistic:

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In a survey of 1503 adults, 53% said they use both a landline and a cell phone.

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What does it mean if a statistic is derived from a sample?

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It means the statistic is calculated based on a subset of the population, not the entire population.

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Why is it important to distinguish between parameters and statistics?

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Understanding the difference helps in interpreting data correctly and making informed decisions.

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What is the population in a study?

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The population is the entire group of individuals or instances about whom we hope to learn.

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What is a sample in statistics?

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A sample is a subset of the population selected for analysis.

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How can a statistic be used to estimate a parameter?

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A statistic can provide an estimate of a parameter by using sample data to infer about the population.

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What is sampling error?

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Sampling error is the difference between the sample statistic and the actual population parameter.