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1.12 What is the difference between a sample and a population?
In most studies, it is difficult to obtain information from the entire population. We rely on samples to make estimates or inferences related to the population. Population means the population of the whole area. Sample means a sample of people taken out of the population to be tested or studied.

1.13 What is the difference between a statistic and parameter?

The difference between parameter and a statistic is that a parameter is a number obtained by calculation from a population while statistic is a number calculated from a sample. A statistic is usually used to estimate a parameter.

1.22 A Gallup poll indicated that 74% of Americans who had yet to retire look to retirement accounts as major funding sources when they retire. Interestingly, 40% also said that they looked to stocks or stock market mutual fund investments as major funding sources when they retire. (data extracted from D.Jacobs, “Investors Look Beyond Social Security to Fund Retirement,” www.gallup.com, March 28, 2011). The results are based on telephone interviews conducted March 24, 2011, with 1,000 or more adults living in the United States, aged 18 and older.

a. Describe the population of interest.

They are the Americans that have not retire yet.

b. Describe the sample that was collected. They are the 18 and older group of adults.

c. Is 74% a parameter or a statistic? Explain. It is a parameter. It measuring the characteristic of the population.

d. Is 40% a parameter or a statistic? It is a statistic. It is measuring the characteristic of a sample.

1.23 The Data and Story Library (DASL) is an online library of data files and stories that illustrate the use of basic statistical methods. Visit lib.stat.cmu.edu/ click “DASL” under the Main Menu on the left side...

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