Paper 1 · Research Aptitude
While the statistical measure based upon the entire population is called a parameter, the measure based upon a sample is known as a
ASample parameter
BInference
CStatistic ✓ Correct
DNone of the above
Correct answer: (C) Statistic — The measure based upon a sample is called a statistic, so that is the answer.
Explanation
★The measure based upon a sample is called a statistic, so that is the answer.
★A parameter is a value that describes the whole population.
★A statistic is the matching value calculated from a sample.
★So the sample-based measure is a statistic, used to estimate the population parameter.
★There is no term 'sample parameter'; the sample value is simply a statistic.
★Inference is the drawing of conclusions, not the measure itself, so the sample measure is a statistic.
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