Determine Whether the Underlined Value Is a Parameter or a Statistic

question 81

Multiple Choice

Determine whether the underlined value is a parameter or a statistic.
-27.2% of the mayors of cities in a certain state are from minority groups.

• A) parameter
• B) statistic

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Definitions:

Absorption Costs

The total of all direct and indirect manufacturing costs assigned to a product.

Suboptimal Decisions

Decisions that do not yield the best possible outcome or that are less efficient compared to the optimal choice.

Buying Division

A segment within a company responsible for purchasing goods, materials, and services from external suppliers.

Transfer Prices

Prices used for the sale of goods or services between departments or subsidiaries within the same company, often set to comply with tax laws.