Determine Whether the Underlined Value Is a Parameter or a Statistic

question 100

Multiple Choice

Determine whether the underlined value is a parameter or a statistic.
-51.5% of the residents of Idlington Garden City are female.

• A) parameter
• B) statistic

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Definitions:

Inventory Value

The total cost or market value of all the goods and products held by a company intended for sale.

Replacement Cost

The current cost of replacing an asset with another of similar kind and same utility without considering depreciation.

Non-Cancellable

Describes a contract or agreement that cannot be terminated or annulled by either party without facing penalties.

Fixed Price

Refers to the set cost of a good or service that does not change regardless of variations in the market or production costs.