Parameter is a numerical observation describing some characteristic of population.
Statistic is a numerical observation describing some characteristic of a sample.
By the sample, we can inferen to the population.
Example:
A researcher is interested in knowing the average of all the Indian college students. The researcher
observes a random sample of 1000 Indian college students and finds that the 1000 student average age is 21 years old.
The population: the age of all Indian college students
The sample: the age of the 1000 sample students
The parameter: the average age of all Indian college students
The statistic: the average age of the 1000 sample college students
