Final answer:
The collection of observations on the variables is called a dataset.
Step-by-step explanation:
The collection of observations on the variables is called a dataset.
To understand this, let's take the example of a fitness center. The population in this case would be all the clients of the fitness center. The sample would be the clients who were included in the study. The parameter would be the mean amount of time that all the clients exercise in the center each week. The statistic would be the mean amount of time that the sample of clients exercise in the center each week.
So, in this case, the dataset would consist of the observations on the variable 'amount of time a client exercises in the center each week'