- CFA Exams
- CFA Level I Exam
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
- Subject 1. The Nature of Statistics

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**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.

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**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 |