Question

A survey of 481 of your customers shows that 79% of them like the recent changes to the product. Is this percentage a parameter or a statistic and why

Answer 1

Statistic, because it is a property of a sample and not the population.

Explanation:

The difference between a parameter and an statistic is that the parameter is a property of a population distribution and an statistics is referred to a sample property.

For example, a sample mean is a statistic while a population mean is a parameter.

In t his case, the proportion is referring to the sample of 481 customers, so it is not a property of the population (altough we can use it to infere about the population), so this proportion (79%) is an statistic.