Probability vs. Statistics; Variable vs. Parameter
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1. Determine if this is an example of probability or statistics:
The average home price in one particular U.S. city is $214,000.
2. Determine if this is an example of a variable or a parameter:
79.6% of Americans own at least one vehicle.
Probabilities express likelihood, whereas statistics are facts/calculations based on ...
The solution explains why the given examples are probability vs. statistics or variable vs. parameter.