# WHAT is THE DIFFERENCE BETWEEN PARAMETER AND STATISTIC?

10 November 2022

What is a Parameter?

A parameter is  measure which is mainly used to describe the complete population that is being studied.

For example, if we have to find out what is the average length of a butterfly, then this is the parameter as it tells and states something about the entire population of the butterflies.

What is Statistics?

Statistics is mainly the study of the collection, analysing, interpretation, presentation and the organisation of whole data. In simple words, these are the numbers that summarise the data or subsets of the entire population. There are three types of branches of statistics.

Now after knowing what Parameter and Statistic is, as you scroll down, you will find out what actually is the difference between parameter and statistic. All the points of differences between the two are given below.

What is the difference between parameter and statistic?

Parameter-

1. This refers to a measure which describes the population.
2. Parameters are the unknown constants.
3. Numerical value provided by it are the fixed values
4. It's harder to measure parameters.
5. Parameters do not estimate the characteristics of the population.
6. Parameters are independent of the sampling and any other errors.
7. It has absolutely no distributions.
8. In parameters, greek letters are used to represent it.
9. The result obtained from the parameter is fixed and does not vary with the population size.
10. To carry out a survey in parameter, it is cheaper than statistics and less cost is required to do.
11. Statisticals Notations in parameters are:
• For population Mean= Mu
• For population standard deviation= Sigma
• Data elements= X
• Population proportion= P
• Size of the population= N
• Correlation coefficient= p

Statistic-

1. It refers to a measure that indicates the fraction of an entire population.
2. Statistics are known and do not contain unknown constants.
3. The numerical value provided is an aggregate value or a variable.
4. Statistics are easier to measure than parameters.
5. These are used to estimate the characteristics of the population.
6. Statistics are subjected to sampling and other non sampling errors.
7. They have distributions that are known as sampling distributions.
8. In statistics, English letters are used to represent it.
9. The result that is obtained from it varies with the size of the population.
10. To conduct a survey in statistics, it is quite costly which becomes less affordable
11. Statistical Notations of statistics are:
• Mean of sample= x-bar
• Standard sample deviation= p-hat
• The sample proportion= s
• Size of sample= n
• Data elements= x
• Correlation coefficient= r

We sure you know now what exactly is a parameter and a statistic and what are the major difference between parameter and statistic

##### difference between parameter and statistic
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