Final answer:
The term that refers to a characteristic of a population, such as the mean or mode, is a 'parameter (option c).' A parameter is a numerical characteristic of a population, while a statistic is a numerical characteristic of a sample, used to estimate the parameter.
Step-by-step explanation:
Understanding Statistics and Parameters
When it comes to the characteristic, such as the mean or mode, of a population, the correct term to use is parameter. A parameter is a numerical characteristic of a population, and it can be estimated using a statistic, which is a numerical characteristic of a sample.
For example, in a scenario where a fitness center wants to know the average time clients exercise each week, if they collect this information from all their clients, they are calculating a parameter. However, if they only collect the data from a sample group of clients, the information they gather would be referred to as a statistic. In both cases, the mean exercise time is what's being assessed, which is the variable in this investigation.
Statistics are incredibly useful when it is impractical or impossible to collect data from an entire population. We use statistical models to understand and estimate parameters. For example, if the U.S. federal government conducts a survey of high school seniors and finds that 50 percent are planning to attend a four-year college, that statistic represents an estimate of the parameter for the entire population of high school seniors.