Statistics Are Used to Estimate Population Parameters, Particularly When It

question 98

Multiple Choice

Statistics are used to estimate population parameters, particularly when it is impossible or too expensive to poll an entire population. A particular value of a statistic is referred to as a(n) ________.

• A) mean
• B) stratum
• C) estimate
• D) finite correction factor

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Definitions:

Coins

Pieces of metal issued by the government as money, typically used as lower-value currency.

Barter

An exchange system where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.

Commodity Money

A type of money whose value comes from a commodity of which it is made, such as gold or silver.

Goldsmiths

Historical tradespeople who crafted objects out of gold and were also involved in banking activities, such as issuing loans and safekeeping valuables.