Charlie has the utility function u(xa, xb) =xaxb.his indifference curve passing through 32 applesand 8 bananas will also pass th
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Answer:
1. Statistics
2. Sample
3. Population
4. Variable
5. Data
6. Parameter
Step-by-step explanation:
1. Statistics is the mean of the sample taken - The average speed that the 250 randomly selected drivers drove on Highway 50
2. Sample is the representative part of the population - The 250 randomly selected drivers who were on Highway 50
3. Population is the group of people from which the sample was taken - All people who drive on Highway 50
4. Variable is a quantity that has values which differ - The speed that a driver drives on Highway
5. Data is information obtained used for a specific purpose - The list of the 250 speeds that the drivers studied drove
6. Parameter is the mean of a population - The average speed that all drivers go on Highway 50
