The Term Parameter

question 3

Multiple Choice

The term parameter

• A)Applies only to sample statistics.
• B)Is synonymous with the term perimeter.
• C)Is used instead of the term statistic when referring to a summary statistic for an entire population.
• D)Can be used interchangeably with the term statistic regardless of whether we are referring to a sample or a population.

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Definitions:

Pay Equity

A policy to eliminate the gap between the income of men and women, ensuring that salary ranges correspond to the value of work performed.

Equal Pay

The concept of ensuring that employees who perform the same or substantially similar work are compensated equally, regardless of gender, ethnicity, or other non-relevant factors.

Scattergram

A graphical representation using dots to show the relationship or distribution of two variables, often used in statistics and data analysis.

Absolute Data

Quantitative information that is completely independent of other numbers, providing specific facts rather than relative or comparative metrics.