A Numerical Value Used as a Summary Measure for a Sample

question 144

Multiple Choice

A numerical value used as a summary measure for a sample, such as sample mean, is known as a

• A)population parameter
• B)sample parameter
• C)sample statistic
• D)population mean

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Definitions:

Constant

A situation or variable in economics that does not change, or a fixed quantity within a particular analysis.

Infinite

A concept or quantity that has no end or limit, often used in mathematics, physics, and discussing concepts with no bounds.

Positive

In economics, it often refers to statements or propositions that can be tested and validated against real-world data, as opposed to normative, which are value-based.

Infinite

A term used to describe a quantity without bounds or end, often used in mathematics and physics to describe an unquantifiably large magnitude.