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We need to explain statistics used in population mean

The population is essentially a collection of items in statistics. This can be in the form of numbers, objects, or anything else. As a result, the population mean is simply the average of this set of things. It's usually used to find the data set's center.

A formula for Population Mean($\mathrm{μ}$)is given by:

Population Mean = Sum of All the Items / Number of Items

$\mathrm{μ}=\underset{}{∑}x/N$

Where,

localid="1650969516929" $X$denotes total number of observed values.

localid="1650969521830" $N$denotes number of observations in the population.

We need to find the statistic used in estimating population standard deviation

The square root of the variance of a set of integers is the population standard deviation. It's used to calculate a confidence interval before making a decision.

Following is the procedure to calculate population standard deviation:

1. Calculate the mean.

2. For each number: Subtract the mean. Square the result.

3. Calculate the mean of the squared differences calculated in step $2$. Mean of these squared numbers is variance.

4. Take the square root variance to obtain the population standard deviation.

Formula is

$\mathrm{σ}={\left(\right[\underset{}{∑{(x-u)}^2}]/N)}^{1/2}$

localid="1650702959726" $\mathrm{σ}$denotes population standard deviation

localid="1650969545859" $x$ is an individual value

localid="1650702970961" $u$is the average of the population

localid="1650702976570" $N$is the total number of the population