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What is the difference between statistic and parameter? These words really crack my head!
in Data Science & Statistics by Diamond (44,112 points) | 69 views

2 Answers

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A statistic is a descriptive measure of a sample while a parameter is a descriptive measure of a population, where the sample is a subset of the entire population.
by Diamond (40,286 points)
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A number that describes an aspect of a population is called a $\textbf{parameter}$, such as the mean of the population data. A number that describes an aspect of a sample is a $\textbf{statistic}$, such as the mean of the sample data. Generally, parameters are unknown values that we use inferential statistics to estimate.
by Gold Status (12,707 points)

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