2024-01-17 21:30:19 +00:00
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(Ch 19, stat 1040)
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| Term | Definition |
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| ---- | ---- |
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| Qualitative | A descriptive value (red, blue, high, low) |
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| Quantitative | A numerical value (7, 8, 9) |
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| Population | The entire set of existing units that investigators wish to study |
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| Sample | A portion or subset of the population |
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2024-01-17 21:35:19 +00:00
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| Parameter | A number that describes a characteristic of a *population* (*10%* of US senators voted for something) |
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| Statistic | A number that describes a *sample* characteristic (*71%* of Americans feel that ...) |
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2024-01-17 21:40:19 +00:00
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A global consumer survey reported that 6% of US taxpayers used
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or owned cryptocurrency in 2020. The US government is
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interested in knowing if this percentage has increased. The
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University of Chicago surveys 1,004 taxpayers and finds that 13% have used or owned crypto in the past year (2021)
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In the above example:
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- the population was us taxpayers, the parameter was 6%, the sample was 1004 taxpayers and the statistic was 13%
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