Question

A population of graduate students at a large university was being studied through the use of a sample survey. The researcher was trying to estimate the mean debt carried by the students through student loans and the proportion of all students that carry a student loan. A random sample of 350 students was selected from the various schools within the university. The sample results showed that 30% held a student loan and the mean debt was $18,450. Which of the following statements is true?

A .The result, 30%, is a statistic and the mean debt, $18,450, is the value of the parameter.
B. The mean debt held by all students is a parameter, and the 30% who hold student loans is the value of a parameter.
C. The mean debt of all students, the proportion holding a loan, and the values 30% and $18,450 are all examples of parameters.
D. The mean debt of all students and the proportion holding student loans are both parameters, but the values 30% and $18,450 are statistics.
E. The mean debt of all students is a parameter, and its value is $18,450. The proportion holding a student loan is also a parameter whose value is 30%.

Answer 1

D. The mean debt of all students and the proportion holding student loans are both parameters, but the values 30% and $18,450 are statistics.

Explanation:

Parameters and statistic are numerical characteristic derived form out data. The distinction between both are : paatwrs are numeric characteristic which are calculated from the population data while those obtained form the sample. Data are called statistic.

The 30% and mean of 18450 are derived from the sample data.

However, the proportion of all students holding a student loan and the mean value is $18450.

As all students represents the total population.