Question

7.2 Why should you generally expect some error when estimating a parameter (e.g., a population mean) by a statistic (e.g., a sample mean)? What is this kind of error called?

Short answer

There are some mistakes when estimating the population parameter using the statistic value. This kind of error is called Sampling Error.

Step-by-step solution

Concept introduction

When a critic fails to choose a model that accurately depicts the entire population of data, this is known as a sampling error.

Explanation

Calculate the population parameter (a function of population observation, example population means) by a statistic (a function of sample observations example sample means).
Expect some inaccuracies because just a portion of the population is used (i.e. sample).
If the sample contains an outlier (an observation that is very dissimilar to the overall nature of the population observations), the statistic's value will not reflect the true nature of the population, i.e. there will be mistakes, then estimate the population parameter using the statistic's value.
Sampling error is the name for this type of error.
As a result, there are some mistakes when estimating the population parameter using the statistic value. This is known as the Sampling Error.