The value of the sample statistic is used to estimate the value of the population parameter.
Sample statistic :
A sample statistic is a statistical finding based on a small sample size. A sample is only a small portion of the population. Let's imagine you were interested in determining the average income for all Americans in your population. Instead of knocking on every door in America because of time and money constraints, you decide to ask 1,000 random people. Your sample consists of these a thousand persons. A sample statistic is one that is drawn from a portion of data or a population and contains statistical information (such as an average, median, or other type of statistic).
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