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Which metric is used in the Proposition Distribution report?

A) Total revenue
B) Accept rate
C) Target budget
D) Volume

1 Answer

5 votes

Final answer:

The mean amount spent on produce per visit by customers in the sample, which is $12.84, is an example of a statistic. This is because it is a measure obtained from a subset of the population—the sample—not the entire population.

Step-by-step explanation:

The metric used in the Proposition Distribution report is likely specific to a context not provided in the question. However, we can address the information given regarding the mean amount spent on produce per visit by customers in the sample, which is $12.84. This value represents a statistic.

For clarity, a statistic is a characteristic or measure obtained by using the data values from a sample. A sample is a subset of the population from which the data is collected. The mean value of $12.84 refers to the average amount spent by the sample, not the entire population. Conversely, a parameter is a characteristic or measure obtained by using all the data values from the entire population.

User Sulabh
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