Conventionally, a "parameter" is a number that describes a population, such as the population mean, standard deviation, regression slope, etc. Usually, such parameters are unknown for the population of interested but can be estimated using sample data. The population mean, often symbolized by the Greek letter mu, is estimated using the sample mean (often symbolized as mu-hat or as Y-bar). The sample value is a "statistic" that estimates its corresponding "parameter."
A statistical measure, statistic, or parameter is a numerical value that summarizes or describes a characteristic of a dataset. It can provide insights into the distribution, central tendency, variability, or other properties of the data. Common statistical measures include the mean, median, mode, standard deviation, and variance. These measures are used in data analysis to interpret and make inferences from data, helping to identify patterns, trends, and relationships within the dataset.
In statistics, you should distinguish a parameter, a fixed value usually unknown representative of a (whole) population, like the expected value or the variance, from which you get an estimate obtained from a specific sample; in between, as usually several samples can be extracted from the same population, you have to deal with an estimator, which is a random variable that has a distribution (each concretization being an estimate). In mathematics, in the most simple case of a real function of one variable f(x), a parameter is an unknown but fixed value associated in the expression of the function, like f(x)=a*x while the real variable x may take any value in the domain; in that simple example 'a' is the slope of a straight line that goes through the origin; later you can put the parameter as a second-order variable, taking different values, but there is an hierarchy...
A parameter is a quantifiable or measurable attribute that characterizes, defines, or describes the properties of a system, process, or function.
In normal distribution mean and standard deviation are the parameters.
You can't define parameter without mentioning statistic
Mu is a parameter for the population mean
X bar is a statistic for sample mean
Parameters are used in population
Statistic are used in samples
Parameter(s) is(are) unknown characteristic(s) of the papulation. By assigning value(s) to the parameter(s) one will be able to make decisions with set confidence.
Unknown characteristics of population,which we estimate for our analysis purposes.
A parameter is a numerical characteristic or value that describes a specific aspect of a population or a model, such as the mean or variance. It is typically fixed and unknown, and it's estimated using data from a sample.
- Badges
- Science topic
- Similar topics
- Engineering
- Electrical Engineering