2) A recent survey of 500 graduates from a cohort (all) of 756 shows that their

Question

2) A recent survey of 500 graduates from a cohort (all) of 756 shows that their average entering salary was s61,000. What does this value describe? Does this value describe a population parameter or a sample statistics? Explain. 3) A survey of 350 employees of a large company (>500 employees) has found that 57% of them support the company plan going public. Identify the population and the sample. 4) The average salary of all General Motors workers is $38,000. Does this value describe a population parameter or a sample statistic? Explain

Explanation / Answer

2. Since we are taking a sample of 500 out of entire population to find the average, this will be a statistic.

3. Population: All the employees of the given company

Sample: 350 chosen employees

4. Since this average is based on all the General Motors workers salary, this will be a parameter.

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