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Question

A recent survey of the alumni of a university indicated that the average salary of 10,000 of its 200,000 graduates was $130,000. The $130,000 would be considered a:_______.A. PopulationB. ParameterC. StatisticD. Sample

Answer

B. Parameter Step-by-step explanation: Good day class, in the field of statistics, it is important to distinguish between a population and a sample. A population refers to a large set of members that belong to the same field of study, while a sample is a subset of that population that is selected for analysis. When we talk about a parameter, we are referring to a numerical value that describes a characteristic of the entire population. This can include things like the population mean, standard deviation, or variance. On the other hand, a statistic is a numerical value that describes a characteristic of the sample. This can include things like the sample mean, standard deviation, or variance. Now let's apply this understanding to a specific situation. We have a population of 200,000 graduates, but our research only focuses on a sample of 10,000 graduates. If our survey shows that the average salary of these 10,000 graduates is $130,000, then the $130,000 is considered a statistic because it describes a characteristic of the sample, not the entire population. Therefore, the correct answer to the question is C. Statistic. I hope this clarifies the difference between a parameter and a statistic for everyone.