Question

Determine whether the bolded numerical value is a parameter or a statistic. Explain your reasoning.The average annual salary of 50 of a company's 800 employees in $54,000A.Statistic because the data set of all employees' salaries is a sampleB. Parameter because the data set of salaries of 50 employees is a sampleC.Parameter​, because the data set of salaries of 50 employees is a populationD.Statistic​, because the data set of salaries of 50 employees is a population.E. Parameter​, because the data set of all employees' salaries is a sample.F. Statistic​, because the data set of salaries of 50 employees is a sample.G. Parameter​, because the data set of all employees' salaries is a population.H. Statistic​, because the data set of all employees' salariesis a population.

Answer 1

Answer: F. Statistic​, because the data set of salaries of 50 employees is a sample.

Explanation:

A parameter gives measure of a characteristic for the entire population where as a statistic gives measure of a characteristic for the subset of population (sample).

Given : The average annual salary of 50 of a company's 800 employees is $54,000.

It means the sample size = 50 and the sample mean salary= $54,000.

i.e $54,000 is giving the measure for mean salary for the sampled 50 employees.

It means $54,000 is a statistic .

Hence, the correct answer is option (F).