BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
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A company has developed a new power cell and wants to estimate its average lifetime. A random sample of 650 power cells is tested and the average lifetime of this sample is found to be 315 hours. The 315 hours is the value of a:
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Parameter
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statistic.
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sample.
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population.
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Explanation:
Detailed explanation-1: -A company has developed a new power cell and wants to estimate its average lifetime. A random sample of 650 power cells is tested and the average lifetime of this sample is found to be 315 hours. The 315 hours is the value of a: statistic.
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