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What is the difference between population parameters and estimates in a sample?

User Splaytreez
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Answer:

Using that sample, you calculate the corresponding sample characteristic, which is used to summarize information about the unknown population characteristic. The population characteristic of interest is called a parameter and the corresponding sample characteristic is the sample statistic or parameter estimate.

Explanation:

If you collect a sample and calculate the mean and standard deviation, these are sample statistics.

User Dr Nic
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