Each of the statistical jargons will be matched to the corresponding meaning or similarity or example.
The corresponding example of the word can be matched as follows:
Population : All the people in the marketing company region.
In statistics, a population is a group of individuals from which are subject to study.
Sample: The 380 randomly selected people who are observed to see if they will buy the product.
A sample represents the group of interest from a population, this group represent the data.
Variable: The answer Yes or No to whether a person bought the product Variable in statistic are any number or quantity that can be measured.
Data: The list of the 380 Yes or No answers to whether the person bought the product.
Data are the figures that are collected, analysed, and summarized for interpretation.
Parameter: The proportion of all people in the company's region who buy the product
Statistics: The proportion of the 380 observed people who buy the product
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