What are parameter and statistic?/Define parameter and statistic.

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1.	What are parameter and statistic?/Define parameter and statistic.
Answer» Statistical constants of the population such as Mean (µ), S.D (σ) are called parameter. Ex:- The population has mean = µ, S.D = σ, population proportion P₀ Statistical measures computed from the samples such as Mean (x̄), S.D(σ) are called statistic. Ex:- A random sample of size ‘n’ has mean=x̄ and S.D = s, sample proportion p

Answer»

Statistical constants of the population such as Mean (µ), S.D (σ) are called parameter.

Ex:- The population has mean = µ,

S.D = σ, population proportion P₀

Statistical measures computed from the samples such as Mean (x̄), S.D(σ) are called statistic.

Ex:- A random sample of size ‘n’ has mean=x̄ and S.D = s, sample proportion p

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