A wedding photographer has made $500 on average in the 5 years it has been operational. When 12 months were analyzed, it was found that he made $620 per month. Does the value $500 refer to the parameter or to the statistic? Is the value $650 a parameter or a statistic? State two advantages of using a sample statistic rather than a parameter.
A wedding photographer has made $500 on average in the 5 years it has been operational. When 12 months were analyzed, it was found that he made $620 per month. Does the value $500 refer to the parameter or to the statistic? Is the value $650 a parameter or a statistic? State two advantages of using a sample statistic rather than a parameter.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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A wedding photographer has made $500 on average in the 5 years it has been operational.
When 12 months were analyzed, it was found that he made $620 per month.
- Does the value $500 refer to the parameter or to the statistic?
- Is the value $650 a parameter or a statistic?
- State two advantages of using a sample statistic rather than a parameter.
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