Even at the height of Feverâs euphoria, grim reality keeps intruding, which is the filmâs plan of attack in a nutshell. Advertisement Actually, the reality on the dance floor is pretty grim, too.
A statistic and a parameter are very similar. They are both descriptions of groups, like â50% of dog owners prefer X Brand dog food.â The difference between a statistic and a parameter is that statistics describe a sample. A parameter describes an entire population. Watch the video or read the steps below:
A parameter is a characteristic of a population. A statistic is a characteristic of a sample. Inferential statistics enables you to make an educated guess about a population parameter based on a statistic computed from a sample randomly drawn from that population (see Figure 1). Figure 1.Illustration of the relationship between samples and populations. For example, say you want to know the mean income of the subscribers to a particular magazineâa parameter of a population. You draw a random sample of 100 subscribers and determine that their mean income is $27,500 (a statistic). You conclude that the population mean income Î¼ is likely to be close to $27,500 as well.