Determine Whether the Given Value

question 78

Multiple Choice

Determine whether the given value.
-A sample of 120 employees of a company is selected, and the average age is found to be 37 years.

• A)Parameter
• B)Statistic

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Definitions:

Variability

The extent to which data points in a distribution or set differ from each other and from the mean or average.

Productive System

An arrangement of resources and processes that interact and transform inputs into valuable outputs, such as goods or services.

Just-In-Time (JIT)

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs, delivering materials just when they are needed.