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Statistic, Parameter In an AARP survey of 1019 randomly selected adults, the respondents were asked to identify the number of credit cards they have, and 26% of them said they had no credit cards. Is the value of 26% a statistic or a parameter?

Short Answer

Expert verified

26% is a statistic.

Step by step solution

01

Given information

The sampled number of adults is 1019.

The percentage of adults without credit cards is 26%.

02

Differentiate between parameter and statistic

A parameteris a value that is measured from all the observations of the population.

A statistic is a value that is measured from a portion of observations, known as a sample.

03

Identify the value as a parameter or a statistic

The percentage of adults without credit cards, i.e., 26%, is a statistic. This is because it is computed for a sample of randomly selected 1019 adults out of the overall population of adults.

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