What is the difference between sample and parameter?
The parameter is drawn from the measurements of units in the population. As against this, the statistic is drawn from the measurement of the elements of the sample. Show
While studying statistics it is important to the concept and difference between parameter and statistic, as these are commonly misconstrued. Content: Statistic Vs Parameter
Comparison ChartBasis for ComparisonStatisticParameterMeaningStatistic is a measure which describes a fraction of population.Parameter refers to a measure which describes population.Numerical valueVariable and KnownFixed and UnknownStatistical Notationx̄ = Sample Meanμ = Population Means = Sample Standard Deviationσ = Population Standard Deviationp̂ = Sample ProportionP = Population Proportionx = Data ElementsX = Data Elementsn = Size of sampleN = Size of Populationr = Correlation coefficientρ = Correlation coefficientDefinition of StatisticA statistic is defined as a numerical value, which is obtained from a sample of data. It is a descriptive statistical measure and function of sample observation. A sample is described as a fraction of the population, which represents the entire population in all its characteristics. The common use of statistic is to estimate a particular population parameter. From the given population, it is possible to draw multiple samples, and the result (statistic) obtained from different samples will vary, which depends on the samples. Definition of ParameterA fixed characteristic of population based on all the elements of the population is termed as the parameter. Here population refers to an aggregate of all units under consideration, which share common characteristics. It is a numerical value that remains unchanged, as every member of the population is surveyed to know the parameter. It indicates true value, which is obtained after the census is conducted. Key Differences Between Statistic and ParameterThe difference between statistic and parameter can be drawn clearly on the following grounds:
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ConclusionTo sum up the discussion, it is important to note that when the result obtained from the population, the numerical value is known as the parameter. While, if the result is obtained from the sample, the numerical value is called statistic. A statistic and a parameter are very similar. They are both descriptions of groups, like “50% of dog owners prefer X Brand dog food.” The difference between a statistic and a parameter is that statistics describe a sample. A parameter describes an entire population. Watch the video or read the steps below: How to tell the difference between a statistic vs parameter Watch this video on YouTube. For example, you randomly poll voters in an election. You find that 55% of the population plans to vote for candidate A. That is a statistic. Why? You only asked a sample—a small percentage— of the population who they are voting for. You calculated what the population was likely to do based on the sample. You could ask a class of third graders who likes vanilla ice cream. 90% raise their hands. You have a parameter: 90% of that class likes vanilla ice cream. You know this because you asked everyone in the class. Steps to tell the difference between a statistic and a parameter:Step 1: Ask yourself, is this a fact about the whole population? Sometimes that’s easy to figure out. For example, with small populations, you usually have a parameter because the groups are small enough to measure: Examples of parameters:
Step 2: Ask yourself, is this obviously a fact about a very large population? If it is, you have a statistic. Examples of statistics:
If in doubt, think about the time and cost involved in surveying an entire population. If you can’t imagine anyone wanting to spend the time or the money to survey a large number (or impossible number) in a certain group, then you almost certainly are looking at a statistic.
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