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:

Marginal Social Benefit

The supplementary advantage to society from the production or utilization of an additional unit of a product or service.

Pollution

The introduction of harmful substances or products into the environment, causing adverse effects on living beings and ecosystems.

Marginal Social Cost

The additional cost to society as a whole of producing one extra unit of a good or service.

Too Little

A situation where the quantity or amount available or supplied is insufficient to meet demand or requirements.