What is the difference between Parameter and Statistic? A statistic and a parameter are quite similar. They are both describing any of particular groups, like “50% of homeowners prefer Y brand home developers.” The difference between a statistic and a parameter is that statistics describe a sample. A parameter describes an entire population.
Difference between Parameter and Statistic are showing below.
| No. | Parameter | Statistic |
| 1 | Any function of the population values is called the parameter. | Any function of the sample observation is called statistics. |
| 2 | The parameter is an unknown constant. | The statistic does not contain unknown constant. |
| 3 | Parameters are not used to estimate population characteristics. | Statistics are used to estimate population characteristics ( such as parameters). |
| 4 | Parameters are free from sampling and other errors. | Statistics are subject to sampling and non-sampling error. |
| 5 | There is no distribution of parameters. | Statistics have distribution, which is called sampling distribution. |
| 6 | The population mean μ, Variance σ2 etc are called parameter. | The sample mean, variance σ2, etc. are called statistics. |
| 7 | In the case of parameters, the Greek letter “mu” represents the population mean. | In the case of statistics, the “x-bar” symbol represents the sample mean, and most other notations differ too. |
Page Contents
Here, Summarized Differences are mentioned.
Here, Summarized Differences are mentioned in showing an example.
Symbolic expressions related to Parameter and Statistic.
When Statistics is used to estimate a parameter is called an estimator.
Any particular value of an estimator is called an estimate.
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What is the difference between Parameter and Statistic?
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