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An Introduction to Basic Statistics and Probability – p. 11/40. Parameters vs. Statistics A parameter is a number that describes the population. Usually its value is unknown. A statistic is a number that can be computed from the Probability density function f(x) = 1

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Statistics is essential for all business majors and this text helps students see the role statistics will play in their own careers by providing examples drawn from all functional areas of business. Guided by principles set by major statistical and

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