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Determine whether the numerical value is a parameter or a statistics (and explain): a) A recent survey by the alumni of a major university indicated
Determine whether the numerical value is a parameter or a statistics (and explain):
a) A recent survey by the alumni of a major university indicated that the average salary of 10,000 of its 300,000 graduates was 125,000.
b) The average salary of all assembly-line employees at a certain car manufacturer is $33,000.
c) The average late fee for 360 credit card holders was found to be $56.75
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