00:01
Are we looking at a parameter or a statistic? so for that we need to identify the difference between a population and a sample.
00:11
A population is your entire group of interest.
00:16
You want to know something about a group.
00:18
That group is your population.
00:21
Sometimes it's reasonable to measure your entire population.
00:24
Sometimes it's not.
00:25
If it's not, you might find yourself taking a sample, which is a subset of the population that you examine, and then you can make estimates about the population based on it.
00:36
A parameter is a piece of information about the population.
00:41
A statistic is a piece of information about the sample.
00:45
For example, if you have a population mean, it's a parameter.
00:48
Population proportion, it's a parameter.
00:51
Sample standard deviation, it's a statistic.
00:55
So let's go through these.
00:58
So we're looking at the monthly average pension for senior citizens in manila.
01:03
So all senior citizens in manila would be the population.
01:06
We're looking at a sample of 50 of them.
01:08
So we've been given a statistic, specifically a sample mean, which we call x bar 2...