What is an important difference between statistics andâ parameters?

A characteristic, usually unknown of the population.

Characteristic of the population, such as its mean, variance and standard deviations are population Parameters.

An observed characteristic of a sample are known as statistics

Estimate the use of a sample characteristic (statistic) to guess or approximate a population characteristic (parameter)

Step-by-step explanation:

Introduction:-

The outcome of a statistical experiment may be recorded either as a numerical value or as a descriptive representation.

Example:-1

When a pair of dice are tossed and the sum of the numbers on the faces is the outcome of interest, we record a numerical value.

Example : -2

If the students of a certain school are given blood tests and the type of blood is of interest, then a descriptive representation.

Population:-

Population is consists of the total observation's with which we are concerned

The number of observations in the population is defined to be the size of the population

Sample: - A sample is a subset of population.

Samples are classified in two ways

Large sample : if the size of the sample n≥ 30 is called the large sample.

small sample: if the size of the sample n<30 is called the small sample.

Statistics uses different names and symbols to distinguish characteristics

of the population from those of a sample.

Parameters : -

A characteristic, usually unknown of the population.

Characteristic of the population, such as its mean, variance and standard deviations are population Parameters.

In symbolically mean of the population parameter is denoted by μ

In symbolically variance of the population parameter is denoted by σ²

In symbolically standard deviation of the population parameter is denoted by σ

Statistic : -

An observed characteristic of a sample are known as statistics

Estimate the use of a sample characteristic (statistic) to guess or approximate a population characteristic (parameter)

In symbolically mean of the sample statistic is denoted by x⁻

In symbolically variance of the sample statistic is denoted by S²

In symbolically standard deviation of the statistic is denoted by S