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At a particular college, 78%of all students are receiving some kind of financial aid. The school newspaper selects a random sample of 100students and 72%of the respondents say they are receiving some sort of financial aid. Which of the following is true?

  1. 78%is a population and 72%is a sample.
  2. 72%is a population and 78%is a sample.
  3. 78%is a parameter and 72%is a statistic.
  4. 72%is a parameter and 78%is a statistic.
  5. 72%is a parameter and 100is a statistic.

Short Answer

Expert verified

Option (c): 78%is a parameter and 72%is a statistic is correct option.

Step by step solution

01

Given Information

We are given that 78%of all students at a particular college get financial aid. From random sample of100students 72%respondents get financial statement.

We need to find out correct option from given options.

02

Explanation

All persons about whom we want to collect data are included in the population.
A sample is a subset of the population from which data is collected.
The sample in our question is the100 students in the random sample, whereas the population is defined as all students at a specific college.
A parameter is population descriptive measure, whereas a statistic is sample descriptive measure.
The 72%is based on a random sample of all students, hence72% is a statistic.
The 78%is based on all students at a specific college, hence it is based on the population, implying that 78%is a parameter.

From all above information we get conclusion that option c in correct option which states that 78%is a parameter and 72%is a statistic.

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