Question

Any statistical measure computed from population data is known as ______.
1. Statistic
2. Parameter
3. Standard error
4. Sampling frame

Answer 1

Correct Answer - Option 2 : Parameter

Any statistical measure computed from population data is known as Parameter.

• Parameters are descriptive measures of an entire population.
• However, their values are usually unknown because it is infeasible to measure an entire population.
• Because of this, you can take a random sample from the population to obtain parameter estimates.
• One goal of statistical analyses is to obtain estimates of the population parameters along with the amount of error associated with these estimates.
• These estimates are also known as sample statistics.

1.  Standard error:
   • It refers to the standard deviation of the sampling distribution.
   • The smaller the standard error,  the less the spread and the more likely it is that any sample mean is close to the population mean.
2. Sampling frame:
   • A sampling frame is the source material or device from which a sample is drawn.
   • It is a list of all those within a population who can be sampled and may include individuals, households, or institutions.