In statistics, what is defined as a numerical characteristic of a population?

In the context of statistics, a numerical characteristic of a population is referred to as a parameter. A parameter provides essential information about the entire population, such as a population mean or population proportion. It represents a fixed value that describes a specific aspect of the population, distinguishing it from other concepts related to data analysis.

Parameters are crucial when conducting statistical analysis because they form the basis for making inferences and decisions about the population based on sample data. While it is possible to obtain estimates of parameters from a sample, those estimates are not parameters themselves but are referred to as statistics.

Understanding the difference between parameters and statistics is key in statistical studies, as parameters pertain directly to the population, while statistics are calculations derived from sample data used to infer or estimate population parameters. This distinction supports the practice of hypothesis testing and constructing confidence intervals, where the goal is often to make informed decisions about population parameters based on limited data.