In 2013, the GDP of the United States Totaled About

question 12

Multiple Choice

In 2013, the GDP of the United States totaled about:

• A) $16.8 billion.
• B) $168 billion.
• C) $16.8 trillion.
• D) $168 trillion.

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Definitions:

Population Mean

The average value of a characteristic in the entire population of interest.

Unbiased Estimator

A statistic used to estimate a population parameter that is expected to be equal to the true parameter value on average.

Larger Sample Sizes

Referring to the use of a greater number of observations in a study, which can enhance the reliability and precision of statistical estimates.

Estimators

Statistics obtained from sample data used to estimate population parameters.