Examlex

Solved

A New Sales Person Is Paid a Commission on Each

question 70

Multiple Choice

A new sales person is paid a commission on each sale.This person made $2,000 in commission his first month on the job.From this he concludes that he will make $24,000 during his first year.This is an example of _______.


Definitions:

Statistical Software

Computer programs designed to assist with the organization, analysis, and visualization of data for statistical purposes.

Hypothesis Test

A statistical method that uses sample data to evaluate a hypothesis about the properties or parameters of a population.

Interval Estimate

An estimate of a population parameter that specifies a range of possible values within which the parameter is expected to lie, with a certain level of confidence.

Unknown Parameter

A value within a statistical model that is not observed directly but is estimated from the data.

Related Questions