Answer
A population consists of all the observations from the data set, whereas a sample consists of only a few observations.
A function of the population is called a Parameter and a function of the sample is called a Statistic.
Usually Population resembles Sample.
We estimate a Parameter using Statistic.
Work Step by Step
A population consists of all the observations from the data set, whereas a sample consists of only a few observations.
A function of the population is called a Parameter and a function of the sample is called a Statistic.
Usually Population resembles Sample.
We estimate a Parameter using Statistic.
