Category:Sample Statistics

A population has parameters that characterizes it: ${\displaystyle \mu ,\sigma ,\rho ,p}$, distribution. These parameters are unmeasurable, since population is usually huge. The point of sample statistics is to estimate parameters with sample characteristics: ${\displaystyle {\bar {X}},{\hat {\mu }},{\hat {\sigma }},s,{\hat {\rho }},r,{\hat {p}}}$. We also want to know how well our estimation is.