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Parameter
∂ is a parameter value, usually unknown (and which
has to be estimated), is used to represent a certain population characteristic.
For example, if you are studying the population of the United
States the mean age of all inhabitants of the United
States is a parameter.
Within a population, a parameter is a fixed value, which dies
not vary. Each sample drawn from the population has its own value of any statistic
that is used to estimate this parameter. For example, the mean of the data
in a sample is used to give information about the overall mean in the population
from which that sample was drawn.
Parameters are often assigned Greek letters (e.g. µ (mu)
for the population mean and lowercase sigma for the population standard deviation), whereas statistics are assigned Roman letters (e.g. where
ª (bar x) is the sample mean and s is the sample variance).
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