adjective. of or relating to a parameter, mathematical or statistical variable: For the statistical analysis, we used a parametric approach, estimating the parameters of a probability distribution.

What is meant by parametric and nonparametric?

Parametric statistics are based on assumptions about the distribution of population from which the sample was taken. Nonparametric statistics are not based on assumptions, that is, the data can be collected from a sample that does not follow a specific distribution.

What does parametric approach mean?

Parametric methods are typically the first methods studied in an introductory statistics course. The basic idea is that there is a set of fixed parameters that determine a probability model. ... A few parametric methods include: Confidence interval for a population mean, with known standard deviation.