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(a) True/False. A binary random variable is a categorical variable. Explain the answer thoroughly. (b) True/False....

(a) True/False. A binary random variable is a categorical variable. Explain the answer thoroughly.

(b) True/False. A parameter is a numerical value that summarizes the observed results. Explain the answer thoroughly.  

Math   Statistics-And-Probability   
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Answer #1

a) true

A categorical variable that can take on exactly two values is termed a binary variable.

In statistics, a categorical variable is a variable that can take on one of a limited, and usually fixed number of possible values,each of the possible values of a categorical variable is referred to as a level.

B) false

A parameter is a numerical value that states something about the entire population being studied.

Parameters are numbers that summarize data for an entire population. Statistics are numbers that summarize data from a sample(set of observations) , i.e. some subset of the entire population.

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