Question

Discuss how concepts of “sample statics” and “population parameters” are related to each other how they are different.（10 pts)

Answer 1

A statistic and a population parameter are quite similar where the main similarity between both of them is that both describe a characteristic of a particular group. For instance, if one considers all the voters, you randomly conduct a poll on people and tell that 50% of people got to vote for candidate A. Then it's a statistic. This is because you actually took the poll for a sample among the population of voters. However when you say that Visually challenged people cannot see and it's something a population parameter which describes the characteristic of entire population of visually challenged people.