Final answer:
The 45% of all professors owning a vehicle is a parameter since it represents the entire population. In a survey conducted by the government representing all high school seniors, the result would also be a parameter as it encompasses the entire population.
Step-by-step explanation:
When analyzing whether a given value is a statistic or a parameter, it is essential to identify whether the value was obtained from a sample or from an entire population. A statistic refers to a numerical measure that describes a characteristic of a sample, whereas a parameter refers to a numerical measure that describes a characteristic of a population.
In the case of the study of all 2484 professors at a college who own a vehicle, where it is found that 45% own a vehicle, the 45% is considered a parameter since it represents the entire population of professors at that college.
In question 7, if the U.S. federal government conducts a survey and the results represent all high school seniors' plans for future education, that 50% would be considered a parameter because it is based on the entire population of all high school seniors.
However, for question 8, if we imagine the U.S. federal government managed to survey every high school senior, then the 50% found would again be a parameter since in this hypothetical situation, all individuals in the population are included, not just a sample.
Understanding the difference between parameters and statistics is crucial in statistics and data analysis, often dictating the methods used to make inferences about a population based on a sample.