Author Question: When quantity discounts are available, order an amount from the highest discount category. ... (Read 83 times)

plus1 · **on:** Jun 24, 2018

When quantity discounts are available, order an amount from the highest discount category.
Indicate whether the statement is true or false

Question 2

Briefly describe the difference between a parameter and a statistic, and give an example of each.

Laurenleakan · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

F

Answer to Question 2

A parameter is a descriptive measure of a population, while a statistics is a descriptive measure of a sample.

Examples: The mean number of soft drinks consumed last week by all students at Notre Dame is a parameter; the mean number of soft drinks consumed last week by a sample of 450 students from Notre Dame is a statistic.