In a study of homeowners, 500 were randomly chosen. it was found that 23% of the people did not have a mortgage and owned their homes outright. determine whether 23% is a statistic or a parameter.

a.
it is a parameter because the value describes a characteristic of a population.

b.
it is a statistic because the value describes a characteristic of a sample.

c.
it is a parameter because the value describes a characteristic of a sample.

d.
it is a statistic because the value describes a characteristic of a population.