Question

Identify the population parameter for the scenario below:A bank manager wants to know the average amount of time customers of his bank have to wait in line. 300 customers were polled and asked their average wait time at the bank. 27 of the 300 were extremely dissatisfied with the amount of time they had had to wait in line in recent months.A) The average wait time for the 300 customers polled B) All customers of the bank C) The percentage of dissatisfied customers D) The average wait time for all the bank's customers

Answer 1

The correct option is;

A) The average wait time for the 300 customers polled

Explanation:

Here we note that a population parameter is a quantity that is a numerical characteristic of the entire population. It depicts the nature of the entire population or group. It is however not a statistic or sample or population subset data.

Example of population parameter includes the average values of a given statistic such as the average number of snack in a bag.

Therefore, the population parameter in the question is the verge wait time of 300 customers polled.