Population Parameter
Definition
A population parameter is a numerical value that describes a characteristic of an entire population.
Analogy
Think of a population parameter as the average height of all the students in your school. It represents the overall height of everyone, not just a specific group.
Related terms
Sample Statistic: A sample statistic is similar to a population parameter, but it describes a characteristic of a sample rather than the entire population.
Sampling Distribution: A sampling distribution is the distribution of sample statistics obtained from multiple samples taken from the same population.
Confidence Interval: A confidence interval is an estimate of where we believe the true population parameter lies based on our sample data.
"Population Parameter" appears in:
Study guides (2)
Additional resources (1)
Practice Questions (1)
- Which type of inference procedure should be used to estimate a population parameter?
Resources
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