In a survey of 500 households of a city, the mean monthly electricity bill of these 500 households is found to be Rs. 1,840. The value Rs. 1,840 is a
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → statistic
A statistic is a numerical value calculated from the observations of a sample alone. A parameter is a numerical value calculated from the whole population.
The value Rs. 1,840 is the mean bill of only the 500 households surveyed, which are a sample of the households of the city. So it is a statistic.
The mean bill of all the households of the city would be a parameter; it is not known here.