Questions: Identify the population parameters or sample statistics in the given scenario. A poll was taken of 1215 employees in a local business. The average price of cars owned by those surveyed was 32,799.

Identify the population parameters or sample statistics in the given scenario. A poll was taken of 1215 employees in a local business. The average price of cars owned by those surveyed was 32,799.

Transcript text: Identify the population parameters or sample statistics in the given scenario. A poll was taken of 1215 employees in a local business. The average price of cars owned by those surveyed was $\$ 32,799$.

Solution

Solution Steps

Step 1: Identify Sample Statistics

In the given scenario, a poll was conducted involving $ n = 1215 $ employees from a local business. The average price of cars owned by those surveyed was calculated to be $ \$32,799 $. This value represents a sample statistic since it is derived from a subset of the entire employee population.

Step 2: Define the Sample Statistics

The identified sample statistics are:

Average price of cars owned by surveyed employees: \[ \text{Average} = 32799 \]
Number of employees polled: \[ n = 1215 \]

Step 3: Identify Population Parameters

While the average price of cars and the number of employees polled are sample statistics, the population parameter would refer to the average price of cars owned by all employees in the business. However, this value is not provided in the scenario.