A Gallup poll indicated that 74% of Americans who had yet to retire look to retirement accounts (such as 401(k), IRA, and Keogh account) as major funding sources when they retire. Interestingly, 40% also said that they looked to stocks or stock market mutual fund investments as major funding sources when they retire. (data extracted from D. Jacobs, "Investors Look Beyond Social Security to Fund Retirement," www.gallup.com, March 28, 2011). The results are based on telephone interviews conducted March 24, 2011, with 1,000 or more adults living in the United States, aged 18 and older.
- Describe the population of interest.
- Describe the sample that was collected.
- Is 74% a parameter or a statistic? Explain.
- Is 40% a parameter or a statistic?
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