QuestionQuestion 2

Define the following terms: i) Population and Sample ii) Parameter and statistic

Solution

i) Population and sample

Population:
The total group under discussion or the group to which the results will be generalized is called population.

Sample:
A sample refers to a smaller, manageable version of population. If the inferences from sample to population are going to be meaningful, it is imperative that the sample should be representative of the population. 

ii) Parameter and statistic

Parameter:
Parameter is a quantity computed from a population when the entire population is available. Parameters are fixed or constant quantities and are not usually known.

Statistic:
Statistic is a quantity computed from a sample. Statistic is variable because it varies from sample to sample.

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QuestionQuestion 2

Define the following terms: i) Population and Sample ii) Parameter and statistic

Solution

i) Population and sample

Population:
The total group under discussion or the group to which the results will be generalized is called population.

Sample:
A sample refers to a smaller, manageable version of population. If the inferences from sample to population are going to be meaningful, it is imperative that the sample should be representative of the population. 

ii) Parameter and statistic

Parameter:
Parameter is a quantity computed from a population when the entire population is available. Parameters are fixed or constant quantities and are not usually known.

Statistic:
Statistic is a quantity computed from a sample. Statistic is variable because it varies from sample to sample.