What are numerical values based on data from an entire population?

What are numerical values based on data from an entire population?

• A. Statistics
• B. Population
• C. Parameters
• D. Variables

Answer: (C)

Numerical values based on data from an entire population are called parameters. A parameter is a numeric summary that describes a characteristic for every member of the population, such as the population mean (mu) or population proportion (p). Because it concerns the whole group, a parameter is a single fixed value for that population, even if we don’t know its exact value in practice. Statistics, in contrast, are summaries calculated from a sample and are used to estimate the parameters. The population is the entire group of interest, not a numerical summary, and a variable is the characteristic being measured that can take different values across individuals.

Numerical values based on data from an entire population are called parameters. A parameter is a numeric summary that describes a characteristic for every member of the population, such as the population mean (mu) or population proportion (p). Because it concerns the whole group, a parameter is a single fixed value for that population, even if we don’t know its exact value in practice. Statistics, in contrast, are summaries calculated from a sample and are used to estimate the parameters. The population is the entire group of interest, not a numerical summary, and a variable is the characteristic being measured that can take different values across individuals.