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
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A) does
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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?
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).
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