A Characteristic, Usually a Numerical Value, That Describes a Sample

question 23

Multiple Choice

A characteristic, usually a numerical value, that describes a sample is called a _______.

• A)parameter
• B)statistic
• C)variable
• D)constant

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Definitions:

Utility Function

A mathematical representation used in economics to model preferences and satisfaction obtained from consuming goods and services.

Berries

Small, pulpy, and often edible fruits, typically round, brightly colored, sweet or sour, and do not have a stone or pit, although many seeds may be present.

Nuts

Edible seeds of certain plants, enclosed in a hard shell, and often consumed as a nutrient-rich food.

Utility Function

Represents the satisfaction or welfare an individual obtains from consuming goods and services, indicating preferences over various bundles of goods.