#quantitative-methods-basic-concepts #statistics
A parameter is a numerical quantity measuring some aspect of a population of scores.
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Open itA parameter is a numerical quantity measuring some aspect of a population of scores.
The mean, for example, is a measure of central tendency. Greek letters are used to designate parameters. Parameters are rarely known and are usually estimated by statistics computed in sOriginal toplevel document
Subject 1. The Nature of Statistics ve values associated with them, such as the average of all values in a sample and the average of all population values. Values from a population are called parameters, and values from a sample are called statistics.
<span>A parameter is a numerical quantity measuring some aspect of a population of scores.
The mean, for example, is a measure of central tendency. Greek letters are used to designate parameters. Parameters are rarely known and are usually estimated by statistics computed in samples. Populations can have many parameters, but investment analysts are usually only concerned with a few, such as the mean return or the standard deviation of returns.
Estimates of these parameters taken from a sample are called statistics. Much of the field of statistics is devoted to drawing inferences from a sample concerning the value of a population parameter.
A statistic is defined as a numerical quantity (such as the mean) calculated in a sample. It has two different meanings.
Most commonly, statistics refers to Summary
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