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Summary

In short, parameters describe populations, while statistics describe samples.

A parameter is a numerical value that describes some characteristic of a population. It is a fixed value that is used to describe a population as a whole.

A statistic, on the other hand, is a numerical value that describes some characteristic of a sample. It is a calculated value that is used to describe a sample drawn from a population. They are not necessarily the same values as the population parameters.

For example, if you have a population of 100 people, and you take a sample of 10 people from that population, the mean and standard deviation of the sample are statistics. They are calculated values that describe the sample, but they are not necessarily the same as the mean and standard deviation of the population as a whole.

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