SOLUTION: Define the terms population sample parameter and statistics, and explain how these terms are related to each other.

Question 1189634: Define the terms population sample parameter and statistics, and explain how these terms are related to each other.
Answer by math_tutor2020(3817) (Show Source): You can put this solution on YOUR website!

Imagine you want to find the average height of everyone in the country. So the population is the set of people in this country.
The parameter would be the average height of everyone in that population. If you were to measure everyone in this population, then you are conducting a census, which tends to be very expensive (especially with large population sizes).

The role of statistics is to gather a sample in which tries to estimate the population.
So for instance, if the population is 50% men and 50% women, then the sample of say 1000 people should have 500 men and 500 women.
When computing the sample mean, this is a sample statistic because the sample mean estimates the population mean.

In short, the entire class of statistics is aimed at estimating population parameters in which are too costly to obtain.
It doesn't have to be a monetary cost but also costs that pertain to natural resources or time.

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