Question

A is a summary description of a fixed characteristic or measure of the target population. It denotes the true value that would be obtained if a census rather than a sample was undertaken.

• A. statistic
• B. precision level
• C. finite population correction
• D. parameter

Hint:

Population ⇒ parameter; Sample ⇒ statistic.

Answer 1

The Correct Option is D

Step 1: Understand the concept.
- Parameter: A numerical summary describing a fixed characteristic of the entire population. It’s constant (though often unknown) and represents the “true” value.
- Statistic: A numerical summary calculated from a sample, used to estimate the parameter.
Step 2: Apply the stem clues.
The stem specifies “true value … if a census rather than a sample was undertaken” — this exactly matches the definition of a parameter.
Step 3: Rule out other options.
- (a) Statistic: from sample, not full population.
- (b) Precision level: refers to allowable error in estimates, not a population measure.
- (c) Finite population correction: an adjustment factor in variance formulas when sampling without replacement from finite populations. \[ \boxed{(d)} \]