The correct statement that best describes the translation from the parent function \( f(x) = x^2 \) to the translated function \( f(x) = x^2 - 3 \) is:
The parent function shifted vertically down 3 units and did not change in any other way.
This is because the term \(-3\) indicates a vertical shift downwards by 3 units, and there is no change in the width or horizontal position of the parabola.