(Ch 19, stat 1040)

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

In the above example:
- the population was us taxpayers, the parameter was 6%, the sample was 1004 taxpayers and the statistic was 13%