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The population mean is the mean calculated over every member of the set of subjects being studied. It is usually not available and a survey is used to find an estimate for the population mean. The mean value of the variable in question, calculated from only the subjects included in the sample (or survey) is the sample mean. Provided some basic statistical requirements are met, the sample mean is a "good" estimate of the population mean.
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As the sample size increase the difference between the sample mean and the population mean approaches what?
Zero
What is the difference between the sample mean and the population mean known as?
Sampling bias.
What statistical concept is used to explain the natural difference that exists between a sample mean and corresponding population mean?
Random error.
What is the difference between a parameter and a statistic?
A parameter is a number describing something about a whole population. eg population mean or mode. A statistic is something that describes a sample (eg sample mean)and is used as an estimator for a population parameter. (because samples should represent populations!)
How much error between sample mean and population mean?
The answer depends on the underlying variance (standard deviation) in the population, the size of the sample and the procedure used to select the sample.
