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Understanding the difference between parameter and statistic

We are going to understand about the major difference between parameter and statistic in the article below.

The parameter

Parameter is the study of the whole population. The data size in the parameter is comparatively more and larger. It is not suitable to get it done all the time. Therefore, it is generally avoided by researchers for studies.

Statistics

Statistics is also a study of the population but with a sample size. The data size is smaller. And also it is known to be suitable for all the types of study every time.

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