Determine whether the number described is a statistic or a parameter.

In a survey of new automobile owners, 43% plan to buy another new vehicle within four years.

Statistic

Step-by-step explanation:

A parameter refers to the characteristic of a population which is usually not known. For instance, in a normal population the parameters are the population mean and the population standard deviation. These two values are hardly ever known since it is not possible to sample the entire population due to time and monetary constraints.

On the other hand, a statistic is simply a characteristic of the sample. For the Normal population above, we could simply obtain a random sample of observations and consequently use them to determine the sample mean and the sample variance. These two measures are statistics since they have been estimated from a sample.

In the question given, the proportion given is a sample proportion since it has been obtained from a sample of automobile owners. The survey will not involve the entire population of the automobile owners.