Understanding Statistics: Population vs. Sample Parameters, Exercises of Statistics

An explanation of the differences between population parameters and sample statistics. It covers the concept of having access to all data (population) versus working with a subset (sample), and discusses examples of population parameters such as mean and standard deviation, as well as sample statistics like sample mean and sample standard deviation.

Typology: Exercises

2021/2022

Uploaded on 09/27/2022

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7.1Statisticvsparameter.notebook February05,2018
Objective:Understandthedifferenceinastatisticandaparameter
Reviewofstatisticalterms
population
sample
haveALLdata
havesomeofthedata.
parameter
information
obtainedfroma
population/alldata
information obtained
fromasample/some
ofthedata
statistic
Examplesofparameters
populationmean
populationstand.dev.
populationproportion
Examplesofstatistics
samplemean
samplestand.dev.
sampleproportion
s
Need4min.forclosure.Setalarmfor5min.before
endofclass
pf3
pf4
pf5

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Objective: Understand the difference in a statistic and a parameter

Review of statistical terms

population sample

have ALL data have^ some^ of^ the^ data.

parameter

information obtained from a population/ all data information obtained from a sample/ some of the data

statistic

Examples of parameters

population mean

population stand. dev.

population proportion

Examples of statistics

sample mean

sample stand. dev.

sample proportion

s Need 4 min end of clas

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In other words, sample 50 people, find the mean and repeat over and over again. This will reduce the chances of being in accurate. If the first group had someone with a ton of cash, the 2nd 3rd or 4th group might have someone with very little cash that balances things out.

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