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What is Statistic vs Parameter Explained about?

A statistic is a numerical value obtained from a sample that represents characteristics of the overall population. It can vary between samples. A parameter is a fixed characteristic that describes the entire population and remains unchanged regardless of the sample. Examples show statistics are measures from samples like the mean income of college students in Boston, while parameters represent the overall population values like the mean income of all college students in Massachusetts. Statistics and paramet

Author
mamuka kassa
Language
EN

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