Determine Whether the Given Value Is a Statistic or a Parameter

question 51

Multiple Choice

Determine whether the given value is a statistic or a parameter
-An investigation of 150 randomly selected local restaurants concluded that 42% of local restaurants have serious health code violations.

• A) Statistic
• B) Parameter

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Definitions:

Price Ceiling

A price ceiling is a government-imposed limit on the price charged for a product or service, intended to prevent prices from rising above a certain level.

Government

The organized body responsible for overseeing the political administration and governance of a state or nation.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price in a given period.

Binding

A situation, typically in the context of contracts or agreements, where parties are legally obligated to adhere to the terms set forth.