What is sample statistics? What is a population parameter? What is sampling error? How does increasing...

What is sample statistics? What is a population parameter? What is sampling error? How does increasing sample size affect sampling error?

Expert Solution

A statistic or sample statistic is a single measure of some attribute of a sample. For example mean of sample. A statistic can also be defined as some function or metric obtained using the sample values

A population parameter is the numerical characteristic of a population or statistical model. For example. Population mean or population variance that characterises a population.

The sampling error is the difference between the sample statistic used to estimate the population parameter and the actual but unknown value.of the parameter. It is bound to happen when we use sample as a representative of the population as it is infeasible to analyse the entire population. As a result, we try to keep the sampling error as least as possible.

When sample size increases, sampling error decreases. As we get more sample points to draw inference about the population which is then more likely to be closer to population characteristics.

orchestra answered 2 years ago

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