Determine whether the given value is a statistic or parameter.A sample of 100 employees of a company is selected, and the average age is found to be 38 years.
Question
Determine whether the given value is a statistic or parameter.A sample of 100 employees of a company is selected, and the average age is found to be 38 years.
Solution
The given value is a statistic. Here's why:
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A parameter is a value that describes a characteristic of an entire population. In this case, the population would be all employees of the company.
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A statistic, on the other hand, is a value that describes a characteristic of a sample from the population. In this case, the sample is the 100 employees selected from the company.
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The average age of 38 years is a characteristic of this sample, not the entire population of employees. Therefore, it is a statistic.
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