What is the difference between a statistic and a parameter?

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Statistics

What is the difference between a statistic and a parameter?

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ANSWER In statistics vocabulary we often deal with the terms parameter and statistic which play a vital role in the determination of the sample size Parameter implies a summary description of the characteristics of the target population On the other extreme the statistic is a summary value of a small group of population ie sample The parameter is drawn from the measurements of units in the population As against this the statistic is drawn from the measurement of the See Answer

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What is the difference between a statistic and a parameter?

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Statistics

What is the difference between a statistic and a parameter?

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