In statistics jargon, the terms parameter and statistic are often used, and they play an important role in deciding sample size. Parameter implies a list of the features of the target population. A statistic, on the other hand, is a summary meaning for a certain number of individuals, which is referred to as a survey. If you feel stuck, don't hesitate to visit our page Do My Statistics Assignment where experts are happy to assist you.
Key Differences Between Statistic and Parameter
The difference between statistic and parameter can be drawn clearly on the following grounds:
A statistic is a trait of a subset of the population, referred to as a survey. The parameter is a constant that characterizes the target population.
The statistic is a known and variable number that is dependent on the population sample, while the parameter is a fixed and unknown numerical value.
The following are the various statistical notations for population parameters and sample statistics:
The mean is denoted by (Greek letter mu), the population proportion is denoted by P, the standard deviation is denoted by (Greek letter sigma), the variance is denoted by 2, and the population size is denoted by N. The standard error of the mean is denoted by x, the standard error of the proportion is denoted by p, and the standardized variate (z) is denoted by (X-)/. The coefficient of variance is denoted by the letter b.
In sample statistics, x (x-bar) denotes mean, p (phat) denotes sample proportion, s denotes standard deviation, s2 denotes variance, n denotes sample size, so denotes standard error of the mean, sp denotes standard error of a proportion, (x-x)/s denotes standardized variate (z), and s/(x) denotes the coefficient of variation.
Illustration
1.A researcher in India wants to know the average weight of females aged 22 and up. From a random sample of 40 females, the researcher obtains an average weight of 54 kg.
Solution: The parameters are the mean weight of all females aged 22 years or older, and the figures are the average weight of 54 kg measured from a simple random sample of 40 females in India.
2.A researcher is trying to figure out how much water male teenagers drink on a daily basis. The researcher obtains an average of 1.5 liters of water from a simple random sample of 55 male teenagers.
A researcher is trying to figure out how much water male teenagers drink on a daily basis. The researcher obtains an average of 1.5 liters of water from a simple random sample of 55 male teenagers.
Solution: The parameter in this question is the average amount of water consumed by all-male teenagers in a day, while the figure is the average 1.5 liters of water consumed by male teenagers in a day, as determined by a simple random sample of 55 male teenagers.
Conclusion: To sum up the discussion, it is important to note that when the result obtained from the population, the numerical value is known as the parameter. While, if the result is obtained from the sample, the numerical value is called a statistic. Professional and technical abilities, as well as leadership and personal qualities, can be included. If you need any help related to a Do My Statistics homework visit our page, where our experts will guide you.
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