Question

#19 consider this scenario: a branch manager at a wells fargo bank wants to know the average amount of time that her customers have to wait in line for a teller. so she polls 300 of her customers and asks them how long they had to wait in line. then she calculates the average wait time for these 300 customers. in this scenario, what is the parameter? (a) all of the customers at her wells fargo branch (b) only the 300 bank customers who were polled (c) the average wait time for the 300 customers polled (d) the average wait time for all of her bank customers (e) none of the above #20 referring to the scenario in question #19 above, what is the statistic? (a) all of the customers at her wells fargo branch (b) only the 300 bank customers who were polled (c) the average wait time for the 300 customers polled (d) the average wait time for all of her bank customers (e) none of the above

Explanation:

In statistics, a parameter is a characteristic of a population, and a statistic is a characteristic of a sample. The population here is all bank - customers, and the sample is the 300 polled customers. The average wait - time of all bank customers is a parameter as it pertains to the entire population. The average wait - time of the 300 polled customers is a statistic as it is calculated from the sample.

Answer:

#19: D. The average wait time for all of her bank customers
#20: C. The average wait time for the 300 customers polled