Asked by Rebecca Rivera on Jul 31, 2024
Verified
A statistic is typically a known quantity while a parameter is typically an unknown quantity.
Statistic
A numerical value that describes a characteristic of a sample.
Parameter
A measurable characteristic that defines or constrains an operation or calculation in mathematical or statistical modeling.
- Differentiate the roles and definitions of statistics versus parameters.
Verified Answer
TJ
Terrell JacksonAug 07, 2024
Final Answer :
True
Explanation :
This statement is true. A statistic is a numerical summary of a sample, and is known because it can be calculated from the data. A parameter is a numerical summary of a population, and is generally unknown because it cannot be directly observed and must be estimated from sample data.
Learning Objectives
- Differentiate the roles and definitions of statistics versus parameters.