Parameter and Statistic in Statistics

Note: Parameter and Statistic is all about Population and Sample. Please take a look on my previous post Population and Sample to get better understanding in parameter and statistic.

Parameter: A parameter is a descriptive measure of population.

For Example: population mean, population variance, population standard deviation, etc.

Statistic: A statistic is a descriptive measure of sample.

For Example: sample mean, sample variance, sample standard deviation, etc.

Parameter vs Statistic

Statistical Notations for Population Parameter and Sample Statistic

Population Parameter — Parameters are usually represented by Greek Letters

Sample Statistic — Statistics are usually represented by Roman Letters

Statistical Notations

Sample Size

N — population’s sample size

n — sample’s sample size

Mean

μ — population mean(Greek)

x̅ — sample mean(Roman)

Variance

σ² — population variance (Greek)

s² — sample variance(Roman)

Standard Deviation

σ — population standard deviation(Greek)

s — sample standard deviation(Roman)

Please refer next post to know variables in statistics, frequency distribution, etc.