- CFA Exams
- CFA Level I Exam
- Topic 1. Quantitative Methods
- Learning Module 2. Organizing, Visualizing, and Describing Data
- Subject 6. Measures of Central Tendency
CFA Practice Question
Which of the following statements is not correct?
A. A statistic can be used to estimate a parameter.
B. The mean obtained from a survey is a parameter.
C. The variance of a population is a parameter.
Explanation: The mean obtained from a survey is a statistic. A survey is obtained from a sample of the population. Any descriptive measure computed from a survey is a statistic and not a parameter.
User Contributed Comments 3
| User | Comment |
|---|---|
| chuong | Statistic -> sample Parameter -> Population then Statistic is used to estimate the parameter |
| mc25456 | The mean obtained from a survey is a statistic. |
| Shelton | NOT correct |