๐ŸŽฒintro to statistics review

key term - Parameter

Definition

A parameter is a numerical characteristic of a population, such as a mean or standard deviation. It represents an entire group rather than a sample taken from it.

5 Must Know Facts For Your Next Test

  1. Parameters describe characteristics of populations, while statistics describe samples.
  2. Common parameters include the population mean ($\mu$), population variance ($\sigma^2$), and population proportion (P).
  3. Parameters are usually unknown because it's often impractical to measure an entire population.
  4. Estimates of parameters are derived from sample statistics through inferential statistics.
  5. The accuracy of parameter estimates depends on the size and representativeness of the sample.

Review Questions