Determine Whether the Underlined Value Is a Parameter or a Statistic

question 113

Multiple Choice

Determine whether the underlined value is a parameter or a statistic.
-Mark retired from competitive athletics last year. In his career as a sprinter he had competed in the 100 -meters event a total of 328 times. His average time for these 328 races was 10.27 seconds.

• A) parameter
• B) statistic

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Definitions:

Direct Method

In cash flow reporting, a format that presents major classes of gross cash receipts and payments, providing transparency into a company's operating cash flows.

Operating Activities

Activities that constitute the primary or main activities of a business, such as selling goods or providing services.

Cash Collections

Cash collections involve the process of gathering all payments or receipts in cash form, typically from customers or clients.

Indirect Method

A method for preparing the cash flow statement where net income is adjusted for changes in balance sheet accounts to calculate cash flow from operating activities.