Answer:
a) True
b) Parameter
Step-by-step explanation:
We are given the following in the question:
An accounting professor wants to know the average GPA of the students enrolled in her class.
Population:
- It is defined as the collection of all variables of interest.
- A sample of individuals of interest is drawn from a population.
For the given case
Individuals of interest:
Students enrolled in accounting class
Population of interest:
Students enrolled in accounting class
Characteristic of interest:
Average GPA of the students enrolled in her class.
a) The population is all students enrolled in the accounting class.
The given statement is true as it contains all the observation of all the individuals of interest.
b) The computed average GPA of all the students enrolled in the class is 3.29
Statistic is a descriptive measure that describes a sample where as a parameter is a measure that describes the population.
Since 3.29 is the average of all the students enrolled in her class that is the average GPA of population.
Thus, 3.29 is a parameter.
17 because you need to multiply
Consumer Price Index or also most commonly known as CPI is calculated through the equation,
CPI = (price at a certain year / price at base year) x 100
Since, we have chosen 2014 as the base year, the denominator of the fraction will be $86. Calculating the CPI for 2015,
CPI = ($90/$86) x 100
= <em>104.65</em>
2/8 and 4/16 are equivalent to 1/4
