Grand River Credit Union draws 250 of its 18,400 mortgage accounts and finds 31 with a late payment. "The proportion late among the 250" is a:
Grand River Credit Union draws 250 of its 18,400 mortgage accounts and finds 31 with a late payment. "The proportion late among the 250" is a:
Answer
Statistic
Options - A. Statistic - B. Parameter - C. Population - D. Variable Why - A. Correct — it is computed from the sample (p̂ = 0.124) and would change in another sample of 250. - B. The parameter is the proportion late among all 18,400 accounts — fixed and unknown. - C. The population is the set of 18,400 accounts, not a number computed from them. - D. The variable is what is recorded on each account: late payment, yes or no.
IBS1 §1.1 (six-part checklist across scenarios, CC BY 4.0 — shape only); S21 W1 handout for the mortgage late-payment shape; original scenarios