Question

A number calculated with complete population data and quantifies a characteristics of the population is called which of the following?

• A. A parameter
• B. An estimate
• C. A parametric
• D. A variable

Hint:

Remember this mnemonic device:
- Parameter goes with Population.
- Statistic goes with Sample.

Answer 1

The Correct Option is A

Step 1: Understanding the Concept:
In statistics, we distinguish between characteristics of an entire population and characteristics of a subset (sample) of that population.
A population is the complete set of all individuals or items under study.
Detailed Explanation:
Let us clarify the terminology:
- Parameter: A descriptive value or numerical index that characterizes a specific property of the complete population (such as the population mean, \(\mu\), or population standard deviation, \(\sigma\)).
Since a parameter is calculated using data from every member of the population, its value is fixed, true, and typically unknown unless a complete census is conducted.
- Statistic Estimate: A descriptive value calculated from sample data (such as the sample mean, \(\bar{x}\)). It is used to estimate the corresponding population parameter.
- Variable: A characteristic or attribute that can take on different values for different individuals in the population.
Therefore, a value that quantifies a characteristic of the population using complete population data is called a parameter.

Step 2: Final Answer:
A numerical characteristic calculated from complete population data is known as a parameter.