Wednesday, 26 October 2016

Difference b/w Sample and Parameter

Sample:
Parameter:
Definition:
The part of the population is called sample.
Examples:
1.               A food inspector takes a sample of the food items like milk, flour etc.
2.               To determine where they are pure or not. Only a few drops of blood from a person are sufficient to reveal the nature of his health.
Definition:
“Any numerical quantity computed from the population observation is called parameter.
Example:
Mean standard deviation. etc.
A parameter is usually denoted by Greek letters e.g.  (mu) will represent the population parameter of mean.
It is important to note that the value of parameter is fixed.

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