A large bank wishes to determine the average credit scores for adults who apply for a loan from Florida. It surveyed 80 applicants from Florida and discovered a mean credit score of 725.
Which of the statements below represent the parameter and the population, respectively, of the survey?
I The mean credit score of all adult applicants from Florida
II The mean credit score of 80 adult applicants from Florida
III All adults who apply for a loan from Florida
IV The 80 adults who apply to for a loan from Florida
A Statements I and III
B Statements II and III
C Statements I and IV
D Statements II and IV
A seems like the most likely answer to me.
The 80 people surveyed are the sample and statistic, which is used to create an estimated measurement for the whole population.
I don't know a whole lot about statistics, but maybe this chart can help. It's what I used to determine my answer.