A population of graduate students at a large university was being studied through the use of a sample survey.The researcher was trying to estimate the mean debt carried by the students through student loans and the proportion of all students that carry a student loan.A stratified random sample of 350 students was selected from the various schools within the university.The sample results showed that 30% held a student loan and the mean debt was $18,450.Which of the following statements is TRUE?
A)The result,30%,is a statistic and the mean debt,$18,450,is the value of the parameter.
B)The mean debt held by all students is a parameter,and the 30% who hold student loans is the value of a parameter.
C)The mean debt of all students,the proportion holding a loan,and the values 30% and $18,450 are all examples of parameters.
D)The mean debt of all students and the proportion holding student loans are both parameters,but the values 30% and $18,450 are statistics.
E)The mean debt of all students is a parameter,and its value is $18,450.The proportion holding a student loan is also a parameter whose value is 30%.

Question

Quizplus · Accepted Answer

Parameters refer to the characteristics of the entire population, while statistics are derived from samples. The mean debt and the proportion of students holding loans for the entire population are parameters. The specific values of 30% and $18,450, obtained from the sample, are statistics.

A Population of Graduate Students at a Large University Was