Answer:
Explained below.
Step-by-step explanation:
A parameter is a valuable element of statistical analysis. It denotes the characteristics that are used to define a given population. It is used to define a particular attribute of the population. For instance, population mean, population standard deviation, population proportion and so on.
While making a statistical conclusion about the population under study, the parameter value is unknown. This is because it would not be possible to gather data from every single member of the population. So a sample is selected from the population to derive a conclusion about the parameter.
A statistic is the value of the characteristics that are computed using this sample. For instance, sample mean, sample standard deviation, sample proportion and so on.