Parametric and nonparametric data identification

Reference no: EM13108272

A catering company is buying equipment in order to set up their own store. They have a choice of two ovens that they can purchase for the store. The used oven is $100 less than the new oven, but its heating calibration is off by 20 degrees. Which one is a better buy for them?

How do I determine if this is parametric or non parametric?

Reference no: EM13108272

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Parametric and nonparametric data identification : A catering company is buying equipment in order to set up their own store. They have a choice of two ovens that they can purchase for the store.

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