What is the difference between a parameter and a statistic?A parameter is derived from a sample, while a statistic is derived from a population.A parameter is always an average, while a statistic can be any measure.A parameter is derived from a population, while a statistic is derived from a sample.There is no difference; both terms can be used interchangeably
Question
What is the difference between a parameter and a statistic?A parameter is derived from a sample, while a statistic is derived from a population.A parameter is always an average, while a statistic can be any measure.A parameter is derived from a population, while a statistic is derived from a sample.There is no difference; both terms can be used interchangeably
Solution
The correct answer is: A parameter is derived from a population, while a statistic is derived from a sample.
In more detail, a parameter is a value that describes a characteristic of an entire population, such as the population mean or the population standard deviation. Because it involves the entire population, it is usually unknown and often estimated by a statistic.
On the other hand, a statistic is a value that describes a characteristic of a sample from the population, such as the sample mean or the sample standard deviation. Statistics are used to make inferences or predictions about the population based on the sample.
The other options are incorrect. A parameter is not always an average, it can be any measure that describes the population, such as the median or the mode. Similarly, a statistic can be any measure that describes the sample, not just an average.
Finally, the terms parameter and statistic cannot be used interchangeably. They refer to different concepts in statistics and are used in different contexts.
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A parameter is a characteristic, like mean or median, that describes the population, while a statistic is a characteristic that describes a sample.
Which of the following statements best describes the relationship between a parameter and a statistic?Question 17Select one:a.A parameter has a sampling distribution with the statistic as its mean.b.A parameter has a sampling distribution used to determine values a statistic may have in repeated samples.c.A statistic is used to estimate a parameter.d.A parameter is used to estimate a statistic.
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In the context of statistical inference, why is it necessary to distinguish between parameters and statistics when seeking information about a population?
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