The correct statement that best describes the translation of 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 "-3" in the equation indicates a vertical shift downward while the shape and width of the parabola remain unchanged.