as we wrap this up for stat 3113, recall that in class, we talked about how the statistics and could be calculated from a sample of data but that the parameters and could not be calculated. why is this?

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09-12-2022
Mathematics

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as we wrap this up for stat 3113, recall that in class, we talked about how the statistics and could be calculated from a sample of data but that the parameters and could not be calculated. why is this?

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abhinavjh321 abhinavjh321 · Answer 1 · 2022-12-17T07:06:05-05:00

Parameters are values that describe the entire population, while statistics are values that describe only a sample of the population. Since there is no way to know the exact values of the parameters, they cannot be calculated from a sample of data.

Parameters are values that describe the characteristics of the entire population. They are used to make inferences about the population and provide a basis for making decisions. On the other hand, statistics are values that describe only a sample of the population. They are used to estimate the parameters of the population. Since it is not possible to know the exact values of the parameters, they cannot be calculated from a sample of data. Instead, we use statistics to estimate the parameters. This is why it is important to use a representative sample when collecting data, as it provides a better estimate for the population parameters

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