Determine Whether the Numerical Value Is a Parameter or a Statistic

question 73

Essay

Determine whether the numerical value is a parameter or a statistic. Explain your reasoning.
-A survey of 1208 students was taken from a university with 20,000 students.

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Definitions:

Accounts Receivable

Outstanding payments due to a company from its customers for delivered or utilized goods and services.

Bad Debt Expense

An estimate of loss due to customers' inability to make payments, recognized as an expense in accounting.

Allowance Method

An accounting technique used to estimate and account for doubtful accounts, providing an allowance for accounts receivable that may not be collectible.

Uncollectible Account

A receivable that a company has given up on collecting due to the debtor's inability to pay, also known as a bad debt.