The Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and thrift institutions for up to $250,000. Before the banking crisis of late 2008, there were 8885 FDIC insured institutions with deposits of $6,826,804,000,000; there were 7436 in late 2011 with deposits of 7,966,700,000,000.
Calculate the average of deposits per bank for FDIC- inured institutions during both time periods and describe the relationship between the two averages. Provide a reason for the difference.
Would the two averages be considered parameters or statistics. Explain.