Examlex
Please define the following key terms
-Huron
Parameter
A numeric characteristic that describes and summarizes an entire population of data.
Statistic
A characteristic or measure obtained from a sample of data, used to estimate the value of a population parameter.
Variance
A measure of how spread out a set of data is, calculated as the average of the squared differences from the Mean.
Variance
A statistical measure that tells us how dispersed or spread out the values in a dataset are around the mean.
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