What is the difference between a statistic and a parameter W

Solution

Parameters and statistics are both numbers which are calculated. The difference between these two terms comes from where you get the numbers from. A parameter is any number calculated from a population. A statistic is any number calculated from a sample.

For example, you randomly poll voters in an election. You find that 55% of the population plans to vote for candidate A. That is a statistic. You only asked a sample of the population who they are voting for. You calculated what the population was likely to do based on the sample.

You could ask a class of third graders who likes vanilla ice cream. Suppose that 90% raise their hands. You have a parameter: 90% of that class likes vanilla ice cream. You know this because you asked everyone in the class.