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Statistic

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Updated: Aug 20, 2021

A function of the sample of observations. Various statistics can be constructed to summarize the properties of the sample (descriptive statistics), to estimate an unknown parameter of the population (estimators), or to test a statistical hypothesis (test statistics).

Reference: Oxford Press Dictonary of Economics, 5th edt.


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James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.