Final answer:
The term used to describe expected data values is a data parameter, which is a numerical value that describes a characteristic of a population.
Step-by-step explanation:
The term used to describe expected data values is known as a data parameter. A parameter is a value, usually a numerical value, that describes a characteristic of a population.
For example, when the U.S. federal government conducts a survey of high school seniors about their future education plans, and 50% answer that they plan to attend a four-year college, that 50% represents a parameter of the surveyed population.
In contrast, when we have information from a sample, such as the 1,000 shopping visits to a grocery store used to calculate the average spending on produce, this figure represents a statistic, not a parameter.
Data can often be categorized into quantitative or qualitative. For instance, duration is an example of quantitative continuous data, because it deals with measuring an amount of time, while something like the number of times per week you do something is quantitative discrete data as it involves counting occurrences.