2. Determine whether the numerical value is a parameter or a statistics (and explain): a) A recent survey by the alumni of a major university indicated that the average salary of 10,000 of its 300,000 graduates was 125,000. b) The average salary of all assembly-line employees at a certain car manufacturer is $33,000. c) The average late fee for 360 credit card holders was found to be $56.75.

2. Determine whether the numerical value is a parameter or a statistics (and explain): a) A recent survey by the alumni of a major university indicated that the average salary of 10,000 of its 300,000 graduates was 125,000. b) The average salary of all assembly-line employees at a certain car manufacturer is $33,000. c) The average late fee for 360 credit card holders was found to be $56.75.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

2. Determine whether the numerical value is a parameter or a statistics (and explain):
a) A recent survey by the alumni of a major university indicated that the average salary of 10,000 of its
300,000 graduates was 125,000.
b) The average salary of all assembly-line employees at a certain car manufacturer is $33,000.
c) The average late fee for 360 credit card holders was found to be $56.75.

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