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:

Government Production

The production of goods and services by government entities, often aimed at providing public goods that are not sufficiently supplied by the private sector.

Nonprofit Organization

An entity operating for purposes other than generating profit, typically focused on social, educational, or charitable activities.

Revenue Received

Income that an organization receives from its normal business operations, usually from the sale of goods and services to customers.

Positive Externality

A beneficial effect experienced by a third party, resulting from an economic transaction that they are not directly involved in.