Why a Parameter? Given the results described in Exercise 3, is the mean of 140.0 executives expressed with μ or x ¯ ? Explain why the mean of 140.0 executives is a parameter instead of a statistic.
Step 1 :
Given, An Office Team survey of 150 executives found that 93.3% of them said that they would be concerned about gaps in a résumé of a job applicant. Based on these results, such randomly selected groups of 150 executives have a mean of 140.0 executives and a standard deviation of 3.1 executives
Here, the mean is calculated for the population of all groups of 150 executives, not just for one group.Because the mean is calculated for the population, it is a parameter.
Std dev = 3.1
Variance = npq
Where n = 150, p = 0.933 and q = 1 - p = 0.067
Variance = 150(0.933)(0.067)
Textbook: Elementary Statistics
Author: Mario F. Triola
The full step-by-step solution to problem: 4BSC from chapter: 5.4 was answered by , our top Statistics solution expert on 03/15/17, 10:30PM. This full solution covers the following key subjects: executives, mean, parameter, results, exercise. This expansive textbook survival guide covers 121 chapters, and 3629 solutions. The answer to “?Why a Parameter? Given the results described in Exercise 3, is the mean of 140.0 executives expressed with ? or x ¯ ? Explain why the mean of 140.0 executives is a parameter instead of a statistic.” is broken down into a number of easy to follow steps, and 37 words. Since the solution to 4BSC from 5.4 chapter was answered, more than 397 students have viewed the full step-by-step answer. Elementary Statistics was written by and is associated to the ISBN: 9780321836960. This textbook survival guide was created for the textbook: Elementary Statistics, edition: 12.