Question

For each of the following statements, identify the number that appears in boldface type as the value of either a population characteristic or a statistic.

(a) A department store reports that 88% of all customers who use the store's credit plan pay their bills on time.
Population characteristic
Statistic

Answer 1

a) 88% is a population characteristic.

Explanation:

A population characteristic, also known as population parameter, describes a characteristic about the entire population of variables (usually numerically). Basically, it is a description (usually numerical) about a group of variables, obtained from the total population of such a variable.

WHILE

A statistic describes that same characteristic, only that it is obtained from a sample of variables taken from the population.

For the question above, a department notices that 88% of ALL their customers who use the store's credit plan pay their bills on time. It is evident that this is a population charasteristic, as it is obtained from examining the entire population of customers.

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