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
Explanation
A statistic is a numerical value computed from a sample and used to estimate the population parameter.
Sample parameter is not a standard term because a parameter always describes the whole population, not a sample.
Inference is the reasoning process of drawing conclusions about the population, not a single measure.
None of the above is wrong because statistic exactly names the sample based measure.
A parameter is a fixed population value while a statistic varies from sample to sample.
Sample mean and sample standard deviation are common statistics used as estimators.
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