I am given a dataset includes characteristics of a random sa

I am given a dataset includes characteristics of a random sample of 4,000 diamonds sold in the U.S.. The dataset contains multiple variables like cut, carat, color, depth etc. In this assignment, I am examining the depth of a diamond. I need to find the A) Population B) Sample C) Parameter and D) Statistic. I can\'t figure out which is which. I can compute them once I know what they are, I just need help in naming what is what.

Solution

Poulation is what from which we draw a sample.

here we are drawing a sample of 4,000 diamonds sold in the U.S.

So Population is \' Diamonds sold in the U.S.

Sample is 4,000 dimonds. we denote sample size =n=4,000

Now parameter is the characterstic of population. So variables like cut, carat, color and depth are parameters of population.

Now Statistic: It is the characterstic of sample. It means, if we calculate cut, color,carat and depth for 4,000 diamonds, which we have drawn from our population, then these characterstics (cut,color,carat,depth) are called statistics.