Question

in a study of homeowners, 500 were randomly chosen. it was found that 23% of the people did not have a mortgage and owned their homes outright. determine whether 23% is a statistic or a parameter. (1 point) it is a statistic because the value describes a characteristic of a sample. it is a parameter because the value describes a characteristic of a population. it is a parameter because the value describes a characteristic of a sample. it is a statistic because the value describes a characteristic of a population.

Explanation:

A statistic describes a characteristic of a sample. Here, 500 homeowners are a sample, and 23% is a value calculated from this sample. A parameter describes a characteristic of an entire population. Since 23% is based on a sample, it is a statistic.

Answer:

It is a statistic because the value describes a characteristic of a sample.