Determine Whether the Given Value Is a Statistic or a Parameter

question 68

Multiple Choice

Determine whether the given value is a statistic or a parameter. After taking the first exam, 15 of the students dropped the class.

• A) Parameter
• B) Statistic

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Definitions:

Poverty Level

The minimum level of income deemed necessary to achieve an adequate standard of living in a given country or area, often used to gauge the portion of the population living in poverty.

Decision Making

The cognitive process of selecting a course of action among multiple alternatives.

Third Party

An entity involved in a transaction aside from the two principal parties, often providing an additional service or role.

Co-Payment Insurance

An insurance policy feature that requires the insured individual to pay a fixed amount out of pocket for covered services.