Question

Determine whether the numerical value is a parameter or a statistics.Explain your reasoning.

The average annual salary for 35 of a company's 1200 accountants is $68,000.

In a recent year, the interest category for 12% of all new magazines was sports.

Answer 1

The average annual salary for 35 of a company's 1200 accountants is $68,000.

Solution::

Here the numerical value $68,000 represent a statistic.

Because, here we only consider 35 accountants salary, and using their salary we estimate the salary of 1200 accountants, so here we consider only a small part of population.

In a recent year, the interest category for 12% of all new magazines was sports.

Solution::

Here the numerical value 12% represent a parameter

because, here we consider the whole population(all new magazines) and we see that 12% among(all new magazines) them have interest in sports.