Reference no: EM132386878

Choose the best answer. Justify for full credit, explaining each step in the process of your answer.

(a) The Knot.com surveyed nearly 13,000 couples, who married in 2017, and asked how much they spent on their wedding. The average amount of money spent on was $33,391. The value $33,391 is a:

(i) parameter

(ii) statistic

(iii) cannot be determined from information provided.

(b) A marketing agent asked people to rank the quality of a new soap on a scale from 1 (poor) to 5 (excellent). The level of this measurement is

(i) nominal

(ii) ordinal

(iii) interval

(iv) ratio