Vocabulary — population, sample, statistic
Population = full set; sample = chosen subset; statistic = function of the sample.
Population. The complete collection of items / individuals about which we want information. Can be finite (the 1800 students at a college) or conceptually infinite (all possible flips of a coin).
Sample. A subset of the population, used to draw conclusions about the whole.
Statistic. A quantity computed from the sample. Examples:
- Sample mean .
- Sample variance .
- Sample median, IQR, range, etc.
Parameter. A quantity describing the population. Examples: (population mean), (population variance), (population proportion). Usually UNKNOWN — we estimate them with statistics.
Why sample?
- The population is too large to measure completely.
- Measurement is destructive (testing battery lifetime).
- Cost / time constraints.
- Sometimes measuring everyone is impossible (e.g. all future production).
The fundamental tension. A sample is uncertain — different samples give different statistics. The sampling distribution captures this uncertainty.
- Population: complete set.
- Sample: subset.
- Statistic: function of sample (random).
- Parameter: function of population (fixed but unknown).