The PGA Conducts a Study in Which They Use a Simple

question 55

Multiple Choice

The PGA conducts a study in which they use a simple random sample of 600 golfers. They examine the data from the sample and calculate that 28% of them own golf clubs made in the USA. The 28% is the

• A) average handicap of these golfers.
• B) sample statistic.
• C) population mean for all golfers.
• D) population parameter.
• E) None of the above.

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Definitions:

Rough Order of Magnitude

An early estimate that gives a general sense of a project's size, cost, or duration, often with wide variances.

Ballpark Estimate

A rough approximation or preliminary calculation of cost or value, not intended to be exact but giving a general idea.

Risk Analysis

The systematic study and assessment of potential hazards that could impede achieving project or organizational goals, focusing on prevention and mitigation strategies.

Project Management Office

A centralized department within an organization that sets and maintains standards for project management throughout the organization.