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Chrome File Edit View History Bookmarks People Window Help Mind Tap Secure https://ng.cengage tatic/nb/ui/evo/index.htmi?deploymentid 5481532222504257886082964483&elS MINDTAP Do: Ch 1 Online End-of-Chapter Assignment Score: /8 Attempts: 2. Chapter 1, Problem 2 A parameter is which of the following? Check all that apply. Aa Aa A characteristic of a population Usualy a numerical value Usually a verbal description A characteristic of a sample A statistic is which of the foilowing? Check all that apply K A characteristic of a sample Usually a numerical value A characteristic of a population Usually a verbal description Continue without saving MacBook AirExplanation / Answer
The above mentioned answers are partly correct. A population is a finite or infinite group, comprising of all elements from a data set. A parameter is indeed a measurable characteristic of a population. But it is also a numerical value and has a verbal description. The verbal description of a population parameter states it to be a numerical value or a quantity or a statistical measure of a variable, which indicates something about a population and helps to describe it. A population parameter remains fixed or unchanged. This is because an entire group was tested or examined to arrive at the value of a parameter. A parameter is a numerical value obtained from a data related to an entire population. It is important to note that mean and variance of a population are examples of population parameters.
A sample is a smaller part or portion of a population, which stands as its representative. A statistic is a measurable characteristic of a sample. But it is also a numerical value and has a verbal description. The verbal description of a statistic states it to be a numerical value caculated from some observed data. It can be said that statistic obtained from a randomly selected sample helps us to make inferences or educated guess or approximations about a population parameter. Unlike population parameters, statistics are not fixed. They differ because to compute their values, everyone was not tested or examined. A statistic is a numerical value obtained from data related to the sample.
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