Question
Download Solution PDFAmong the options for parameters, which option is correct for population?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFExplanation
Statistics such as averages and standard deviation when taken from populations are population parameters.
The population mean is denotted by μ and standard deviation denotted by σ
∴ μ and σ are parameters for population
Mean = ∑xi/n
Standard deviation = √(∑(xi - x̅)2/n)
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