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POPULATION, SAMPLE,  PARAMETER & STATISTICS

 

 

POPULATION, SAMPLE,  PARAMETER & STATISTICS

In this post, I have explained the difference between Population & Sample.

 

Population

Sample

A population refers to an entire group of people, objects, events, measurements etc. that is under consideration or observation with some common features. Eg.

A sample is a subset of the population, and its members are randomly selected from the population.Eg.

Number of US voters between the age of 30 & 40 and finding out whether they voted for Congress

Reaching out to a fraction of US voters between the age of 30 & 40 and checking with them whether they voted for Congress

Number of Apple employees who are satisfied with their annual salary

Reaching out to a few employees of Apple and finding out whether they are satisfied with their salary

Parameter – A parameter is a data of a population. Eg.

Statistics – A statistic is a data of a sample that is a representation of a population. Eg.

Reaching out to every US voter between the age of 30 & 40 and finding out whether they voted for Congress

Instead of reaching out to every US voter between 30 & 40 and checking with them whether they voted for Congress, we draw a conclusion based on percentage of people who voted for Congress, using sample

Reaching out to every employee of Apple and find out whether they are satisfied with their salary

We infer what percentage of employees are satisfied with their salary based on a sample

 

August 5, 2019

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