Question

A recent survey by the alumni of a major university indicated that the average salary of 8,500 of its

250,000 graduates was $123,000. Does this value describe a parameter or a statistic? WHY?

Answer 1

The average salary of 8,500 university graduates is a statistic because it is calculated from a sample of the larger population of 250,000 graduates.

Step-by-step explanation:

The average salary of 8,500 graduates from a university is described as a statistic rather than a parameter. A statistic is a characteristic that is calculated from a sample of the population, while a parameter is a characteristic that is calculated from the entire population. Since the 8,500 graduates represent a sample of the larger population of 250,000 graduates, the average salary figure is a statistic.