- CFA Exams
- CFA Level I Exam
- Topic 1. Quantitative Methods
- Learning Module 7. Estimation and Inference
- Subject 1. Sampling Methods
CFA Practice Question
Determine whether the following indicators of numerical values would be parameters or statistics.
II. In a survey of customers, ______ were satisfied with the service they were given.
III. Of the undergraduate students at a university, ______ lived off campus last year.
B. statistic; statistic; statistic
C. parameter; statistic; parameter
I. ______ of a company's board members were in favor of initiating a new training program.
II. In a survey of customers, ______ were satisfied with the service they were given.
III. Of the undergraduate students at a university, ______ lived off campus last year.
A. statistic; statistic; parameter
B. statistic; statistic; statistic
C. parameter; statistic; parameter
Correct Answer: C
User Contributed Comments 10
| User | Comment |
|---|---|
| Pooh | #1 can be tricky, it can be a statistic if one considers all possible outcomes of the new training program -- in favor, not in favor or neither. |
| bobbi | parameter relates to population while statistic refer to sample. |
| Carter | Always ask yourself: What are we measuring? For #1: we aren't measuring the outcome of the new training program. We are measuring the opinions of the Board members. There is only a limited number of responses that can be gathered rather quickly. |
| accounting | the clue words are in and of |
| StanleyMo | i think clue word is survey :) |
| mordja | The issue with one is that it measures all board members responses, thus it is a parameter as it measures all responses from a population |
| AnkitDAnalyst | i agree with accounting |
| endlessfin1te | parameter relates to population while statistic refer to sample, SIMPLE |
| 2014 | company board is "population' Paramter measures some aspects of scores it is a measure of views of population |
| jadamo10 | Yes accounting and StanleyMo |