SOLUTION: A manufacture of children toys claims that less than 3% of his products are defective. When 500 toys were drawn from a large production run, 5% were found to be defective. A) does

Question 875815: A manufacture of children toys claims that less than 3% of his products are defective. When 500 toys were drawn from a large production run, 5% were found to be defective.
A) does the value 3% refer to parameter or statistics. Why?
B)does the value 5% refer to parameter or statistics. Why?

Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
A) The 3% refers to the parameter because 3% is talking about the entire population proportion.

B) The 5% is the statistic because 5% only is in reference to this particular sample (it is expected to vary from sample to sample, but hopefully be close to the parameter).
RELATED QUESTIONS
A manufacturer of children's toys claim that less than 3% of his products are... (answered by CPhill,ikleyn)

A manufacturer of children's toys claim that less than 3% of his products are defect.... (answered by Boreal)

A manufacturer of children toys claims that less than 3% of his products are defective.... (answered by Boreal)

A manufacturer of children's toys claim that less then 3% of his products arw defect .... (answered by ewatrrr)

at earth's toy store, the paper toys are 3 times less than wooden toys, but twice more... (answered by Alan3354)

In how many ways can a mother distribute three different toys among her seven children if (answered by robertb,sudhanshu_kmr)

Of 15 windup toys on a sale table, 4 are defective. If 2 toys are selected at random,... (answered by stanbon)

I am trying to solve a two part statistics question. A mechanical press is used to... (answered by reviewermath)

How many ways are there to arrange either 4 or 5 toys from a basket of 12... (answered by ikleyn)