Q:

What is the difference between a parameter and a statistic?

A:

Quick Answer

A statistic describes a sample, while a parameter describes an entire population. A sample is a smaller subset that is representative of a larger population.

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What is the difference between a parameter and a statistic?
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Full Answer

The symbols differ when reporting statistics versus parameters. The average symbol for a statistic is an x with a line on top of it. For a parameter, the average is represented by the symbol μ. Since it is not always possible to collect every single observation in a population, sampling procedures are used to select a representative sample. Random sampling allows a statistician to calculate statistics about a sample and apply them to a population.

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Related Questions

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    What is a good statistical sample size?

    A:

    A good statistical sample size is at least 100, and preferably more, participants. With a 100-participant sample size, the researcher has a margin of error of approximately 10 percent with a 95 percent confidence rating in the results. For the researcher to increase his confidence rating and reduce his margin of error he has to increase the size of the sample.

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  • Q:

    What formula is used to find a sample variance?

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    How is simple variance calculated?

    A:

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    A:

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