Which of the following statements is correct?
A) A parameter is a measure that is calculated from a sample.
B) Statistics is the science of collecting,organizing,analyzing,interpreting,and presenting data.
C) For day-to-day data business analysis,most firms rely on a large staff of expert statisticians.
D) A statistical test result that is significant also has practical importance.

Question

Quizplus · Accepted Answer

Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. The other options are not correct. A) A parameter is a measure that is calculated from a population, not a sample. C) Most firms do not rely on a large staff of expert statisticians for day-to-day data analysis. D) A statistical test result that is significant does not always have practical importance, as significance is determined by the sample size and effect size.

Which of the Following Statements Is Correct