Home > Sociology MCQ Questions and Answers > What is the term for a statistical value derived from analyzing an entire population?
What is the term for a statistical value derived from analyzing an entire population?
A
Parameters
B
Statistics
C
Inference
D
Universe
Correct Answer:
A
Parameters
- A parameter is a statistical value that describes a characteristic of an entire population.
- A parameter is determined by taking measurements from all the elements in a population.
- Examples include the population mean, median, variance, and standard deviation.
- A parameter gives an exact measurement of population characteristics.
- As opposed to statistics, parameters are fixed numbers, although they are usually unknown in practice.
- Unlike statistics, which are calculated from samples, parameters describe the entire population.
- Inferencing means making conclusions on a population based on samples.
- In statistics, the term "universe" is often used as a synonym for the entire population.