Determine whether the underlined numerical value is a parameter or a statistic.

Question

Determine whether the underlined numerical value is a parameter or a statistic. Explain your reasoning. The average annual salary of 50 of a company's 800 employees is Modifying $ 54, 000 . Choose the correct answer below.

A. Statistic, because the data set of all employees' salaries is a sample.

B. Parameter, because the data set of all employees' salaries is a population.

C. Statistic, because the data set of salaries of 50 employees is a sample.

D. Parameter, because the data set of salaries of 50 employees is a sample.

E. Statistic, because the data set of salaries of 50 employees is a population.

F. Parameter, because the data set of all employees' salaries is a sample.

G. Statistic, because the data set of all employees' salaries is a population.

H. Parameter, because the data set of salaries of 50 employees is a population.

Explanation / Answer

Answer is C.

C. Statistic , because the data set of salaries of 50 employees is a sample.

Statistic: It is a function of sample and it is always known.

Here, salary of 50 employees out of 800 is a sample value. And taking an average is just a function of this sample units. So, this is a statistic.

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