You Are the Owner of a Camping Site and Want

question 4

Multiple Choice

You are the owner of a camping site and want to estimate the average age of your customers.For this purpose,you select a representative sample of your clients and offer them a discount good for their next visit as compensation for filling out a short questionnaire that includes relevant age intervals.The average age of your customers is:

• A) a measurement
• B) data
• C) a statistic
• D) a parameter
• E) a census

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Definitions:

Labor Productivity

A measure of economic performance that calculates the amount of goods and services produced (output) per unit of labor input, reflecting the efficiency of labor use.

Real GDP

Real Gross Domestic Product is the inflation-adjusted value of all goods and services produced by an economy over a specific period, providing a more accurate picture of an economy's size and how it's growing over time.

Employment Growth

The increase in the number of people who are employed in a country or region over a set period.

Real GDP Per Capita

Real GDP per capita measures the economic output of a country adjusted for inflation and divided by the total population, providing an average economic well-being indicator.