The Statistical Discrepancy

question 46

Multiple Choice

The statistical discrepancy

• A)is always positive
• B)is always negative
• C)must be reduced to zero and eliminated from the balance of payments before the records become official
• D)is a residual factor that indicates the net error in the balance of payments data
• E)is a record of all transactions between residents of two countries over a specified period

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Definitions:

Error of Estimation

The discrepancy between a population parameter and its estimate, indicating the uncertainty associated with the estimation process.

Statistic

A single measure, calculated from sample data, used to summarize a characteristic of the sample.

Parameter

A characteristic or measure that can define or summarize a particular aspect of a statistical population or model.

Estimation

The process of finding an approximate value of some parameter—such as a mean or proportion—of a population, based on random sample data.