Difference Between Parameter And Statistics Slideshare

Parameter is any numerical or nominal characteristic of a population. A statistic is a characteristic of a sample a portion of the target population.

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It is a value or measurement obtained from a population.

Difference between parameter and statistics slideshare. The value of a parameter is a fixed number. One sample of size 50 has the corresponding statistic with value 9 5. The parameter is drawn from the measurements of units in the population.

It is usually referred to as the true or actual value. The researcher uses the whole population of srsths to get the average allowance of srsths students. It is the expectation of the squared deviation of a random variable from its mean and it informally measures how far a set of random numbers are spread out from the mean.

In contrast to this since a statistic depends upon a sample the value of a statistic can vary from sample to sample. The clue to this discrepancy between parameters vs statistics lies with the fact that while a parameter considers any and every person involved in an entire population statistics would include the data it receives from a selected sample while ignoring the presence of the rest of the community. It is calculated by taking the differences between each number in the set and the mean squaring the differences to make them positive and diving the sum of the.

Suppose our population parameter has a value unknown to us of 10. A parameter is fixed unknown numerical value while the statistic is a known number and a variable which depends on the portion of the population. On the other extreme the statistic is a summary value of a small group of population i e.

Sample statistic and population parameters have different statistical notations. Parameter implies a summary description of the characteristics of the target population. Statistic is an estimate of a parameter.

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