A statistic is a numerical value that summarizes or describes a characteristic of a sample. It is used to make inferences about populations based on sampled data.
5 Must Know Facts For Your Next Test
Statistics can be measures of central tendency (mean, median, mode) or measures of dispersion (range, variance, standard deviation).
Statistics are calculated from sample data and are used to estimate population parameters.
The difference between a statistic and a parameter is that statistics describe samples while parameters describe populations.
Common examples of statistics include the sample mean ($\bar{x}$), sample proportion ($\hat{p}$), and sample variance ($s^2$).
Inferential statistics use sample statistics to make predictions or inferences about a population.