An online store contacts 15001500 customers from its list of customers who have purchased in the last year and asks the customers if they are very satisfied with the store’s website. One thousand (1000)(1000) customers respond, and 696696 of the 10001000 say that they are very satisfied with the store’s website. What is the parameter? The 69.6%69.6% of respondents who replied they are very satisfied with the store’s website. The percentage of the 15001500 customers contacted who would have replied they are very satisfied with the store’s website. The percentage of all customers who purchased in the last year who would have replied they are very satisfied with the store’s website. None of the choices represent the parameter.

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Average

In mathematics, everyone must have heard the term average in one place or other. Almost all types of calculation require taking out an average. In everyday life, the term is used for denoting a certain amount that can be said to be a typical quantity for multiple people or objects. In other words, if a group of people possesses a certain object, then the average gives us an idea regarding the quantity of the object possessed by each person. However, this is solely based on mathematical calculation. It is important to note that most people will not strictly have the average value in a group.