Parameters vs. Statistics

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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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What is a Population in statistics?

Back

A 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 observation and analysis.

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What does the term 'Sample Mean' (x̄) refer to?

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The sample mean (x̄) is the average of a set of values from a sample.

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How do you determine if a value is a parameter or statistic?

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If the value describes a whole population, it is a parameter; if it describes a sample, it is a statistic.

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What is the difference between a population and a sample?

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A population includes all members of a specified group, while a sample includes only a part of that group.

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What is the significance of random selection in sampling?

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Random selection helps ensure that the sample is representative of the population, reducing bias.

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What is an example of a parameter?

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The average height of all students in a school.

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What is an example of a statistic?

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The average height of 50 randomly selected students from a school.