Determine if the numerical value describes a parameter or a statistic. A recent poll of 1771...

Question

Question

Determine if the numerical value describes a parameter or a statistic.

A recent poll of 1771 corporate executives showed that the average price of their cars is $39,400.

Answer 1

Answer #1

A numerical value is a parameter if it represents the population. If it represents a sample, its called a statistic.

Here, the numerical value of $39.400 is the sample mean taken from a sample of size 1771. So, it is a statistic.

Answer 2

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